Market Share of Loans Goes Down as Dallas Real Estate Goes Up

In a recent report by Ellie Mae, numbers show that the percentage of Federal Housing Association loans in the real estate market has decreased, finally cutting some slack in the tight market created by the recession. In response to this, refinancing rates and purchase applications are up, showing a widespread increase in economic stability.

One of the major examples of this progress has been the Texas area, specifically around Dallas-Fort Worth. Dallas homes for sale have generally been raising prices and lowering in inventory, resulting in an increased demand. All of this has been caused by general signs of economic recovery, such as lower unemployment rates, or the broad good news from Ellie Mae’s report.

Ellie Mae, one of the leading software services for the financial side of the residential mortgage industry, has provided numerous reports as their software has become more popular. This latest Originations Insight Report is the most comprehensive so far, compiling data from all across their massive system. And the news has been great at every turn.

A lower rate of FHA loans means more breathing room for local real estate economies and more money that can circulate from inside the community through conventional loans rather than from the government. Dallas real estate agents have met the news with celebration, and the urban center is showing signs of prodigious growth.

As Ellie Mae’s Chief Operating Officer Jonathan Corr says, “The share of FHA loans versus conventional loans declined to 18% in January 2013, which has been a new low since our tracking began. This may indicate that higher premiums and other program changes are making FHA loans less attractive.”

Corr also indicated lower credit score requirements for loans, giving a lot more people access to investments in the rapidly growing industry. It looks like a snowball effect is in place, with the city of Dallas at the center of this exponentially advancing trend.

If you are interested in participating in this quickly expanding community, please contact us. It would be our pleasure to guide you through the exciting new opportunities that exist in the Dallas real estate market.

Spread the Word

Explore your Loan Options!

If you're ready to talk to a Home Loan Expert about your loan options,
Call (972) 499-0454 now or fill out the form on the right and we'll call you!

Get Started Now

+Patrick Glaros empowers people to find their best home loan option. Through planning and education, and a goal-oriented approach, Patrick and the team at Dallas Mortgage Planners have one common goal: Help clients make an informed decision to choose the best home loan for their unique situation. Find other articles written by Patrick.

Click Here to Leave a Comment Below

Leave a Reply: