[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f36vsxl7v64g87":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},801,"home-mortgages-rates-up-requirements-easing","Home Mortgages: Rates Up, Requirements Easing","The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa>). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen.","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F11125956\u002F20170413-Share-STM.jpg","The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa>). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen.\u003C!--more-->\r\n\r\nThe \u003Cem>Mortgage Bankers Association\u003C\u002Fem> (MBA) quantifies the availability of mortgage credit each month with their \u003Ca href=\"https:\u002F\u002Fwww.mba.org\u002F2017-press-releases\u002Fapril\u002Fjumbo-government-loans-drive-mortgage-credit-availability-increase-in-march\">\u003Cem>Mortgage Credit Availability Index\u003C\u002Fem>\u003C\u002Fa>\u003Cem> (MCAI)\u003C\u002Fem>. According to the \u003Cem>MBA\u003C\u002Fem>, the \u003Cem>MCAI\u003C\u002Fem> is:\r\n\u003Cblockquote>\u003Cem>“A summary measure which indicates the availability of mortgage credit at a point in time.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThe higher the index, the easier it is to get a mortgage. Here is a chart showing the \u003Cem>MCAI\u003C\u002Fem> over the last several months as rates have increased.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F20170413-STM-ENG-1.jpg\">\u003Cimg class=\"alignnone wp-image-35332\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F20170413-STM-ENG-1.jpg\" alt=\"Home Mortgages: Rates Up, Requirements Easing | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch4>\u003Cstrong>Have requirements for attaining a mortgage actually eased?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nYes. Here are two examples:\r\n\u003Col>\r\n \t\u003Cli>\u003Cstrong>FICO\u003C\u002Fstrong>\u003Cstrong>®\u003C\u002Fstrong>\u003Cstrong> Score\u003C\u002Fstrong> – the credit score which helps determine a buyer’s eligibility. The score required to attain a mortgage has been falling over the last five months:\u003C\u002Fli>\r\n\u003C\u002Fol>\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F20170413-STM-ENG-3.jpg\">\u003Cimg class=\"alignnone wp-image-35334\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F20170413-STM-ENG-3.jpg\" alt=\"Home Mortgages: Rates Up, Requirements Easing | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Col start=\"2\">\r\n \t\u003Cli>\u003Cstrong>Down Payment Requirement\u003C\u002Fstrong> – the percentage of the purchase price necessary to place as a down payment on a home. To make this point, let’s look at the percentage of first-time buyers who have put less than 5% down over the last several years as compared to the 1\u003Csup>st\u003C\u002Fsup> quarter of 2017:\u003C\u002Fli>\r\n\u003C\u002Fol>\r\n\u003Ch3>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F20170413-STM-ENG-2.jpg\">\u003Cimg class=\"alignnone wp-image-35333\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F20170413-STM-ENG-2.jpg\" alt=\"Home Mortgages: Rates Up, Requirements Easing | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\u003C\u002Fh3>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWhether you are a current homeowner looking to move to a home that will better serve your family’s current needs, or a first-time buyer looking for a starter home, it is easier to get a mortgage today than it has been at any other time in the last ten years.","\r\nWhether you are a current homeowner looking to move to a home that will better serve your family’s current needs, or a first-time buyer looking for a starter home, it is easier to get a mortgage today than it has been at any other time in the last ten years.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F20170413-STM-ENG-1.jpg",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up","2017-04-13T10:00:09Z","2017-04-11T18:24:28Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},800,"millennials-flock-to-low-down-payment-programs","Millennials Flock to Low Down Payment Programs","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F04\u002F04121244\u002F20170412-Share-STM.jpg","2017-04-12T10:00:43Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},802,"is-your-first-home-within-your-grasp-infographic","Is Your First Home Within Your Grasp? 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