The Real Deal Miami

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

July 09, 2009 02:03PM

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