Government-insured mortgages make up highest share of applications since 1990

Government-insured mortgages made up 35.9 percent of mortgage applications in June, according to data released today by the Mortgage Bankers Association. That percentage is up from 25.7 percent in May and 27 percent in June and represents the highest share since 1990. These loans, which include those from the Federal Housing Administration, have become more popular partly because they require lower down payments, said Orawin Velz, associate vice president of economic forecasting at MBA. TRD

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