Mortgage Market Condition

“Just the facts, Ma’am!” Sgt. Joe Friday - You youngsters look him up!
- In the United States, 51.5 Million Home Mortgages are outstanding.
- 2.5 Million of the mortgages are ARMs (Adjustable Rate Mortgage).
- 1.5 Million are not set to adjust.
- In 2008, a whopping 35% of the mortgages were adjustable.
- When these mortgages adjusted as MOST did, the rate went sky high!
  This new rate made MANY mortgage payments for borrowers unaffordable!
- Today, Home Owners Loan to Value (LTV) is below 50%. Most have a ton of equity in their
  houses!  
- In 2022, there was 11 Trillion DOLLARS in new home equity created.
- In 2008, Home Owners LOST 3.8 trillion dollars in home equity.
- The average Credit Score of Borrowers in 2022 is 751, and in 2006 it was 686.
All this makes for a MUCH healthier mortgage market today compared to 2008-10!