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Saturday, April 28, 2018

Buying My House in Brooklyn NY | Is Family Mortgage Debt Out of Control?


Buying My House in Brooklyn NY | Is Family Mortgage Debt Out of Control?

Explore the best neighborhoods in Brooklyn to buy a house based on home values, property taxes, homeownership rates, housing costs, and real estate trends. ...
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Our topic today Is Family Mortgage Debt Out of Control?



Today’s ratio of 4.44% is nowhere near the ratio of 7.21% during the peak of the housing bubble and is instead at the lowest rate since 1980 (4.38%).
Bill McBride of Calculated Risk recently commented on the ratio:
“The Debt Service Ratio for mortgages is near the low for the last 38 years. This ratio increased rapidly during the housing bubble and continued to increase until 2007. With falling interest rates, and less mortgage debt, the mortgage ratio has declined significantly.”

Bottom Line

Many families paid a heavy price because of questionable practices that led to last decade’s housing crash. It seems the American people have learned a lesson and are not repeating that same behavior regarding their mortgage debt.

Source... KCM RossMery Blog http://nyhomesforsale.blog/

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