Mortgage Amounts Are Outpacing Home Price Growth
The Mortgage Bankers Association reports that mortgage amounts are rising faster than home prices.
This trend confirms the continued weakness at the lower end of the housing market, as jumbo loans continue to account for a large share of mortgages.
According to the New York Times, one factor contributing to weak activity in the lower end is the limited number of houses to choose from.
Sign up for Pro Builder Newsletters
Get the latest news and updates.