Changes In Mortgages Since 2000

Home loan values have risen, down payment amounts have fluctuated, and condo buying has become more common since the start of the new millennium.

A study from Zillow Research found that, apart from a dip in 2011, home values have risen steadily over the last 16 years, reaching a median of $203,000 today. Low down payments of 10, five and even three percent were common a decade ago. Then the housing bubble burst, and low down payments were considered too risky for lenders. The rates have since made a comeback due to easier lending standards and very low interest rates.

In 2000, nearly 80 percent of newly mortgaged homes were single-family residences. Today, only 56.9 percent are single family. The rest are condos. The change may be due to the popularity of urban living.

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