Extract
Pinpointing the BEST MARKETS.
The total dollar amount of mortgages made to buy homes this year is about to set a fourth consecutive record. That suggests the nation's housing markets are ablaze. But all markets are not equally blessed, and lenders need to heed the research on local housing markets before they set up shop.
AT A TIME WHEN THE NATION'S HOUSING MARKET has been booming and purchase mortgage originations are about to set a fourth consecutive annual record, you might think you could throw a dart at the map and find a prosperous housing market. Actually, the dart approach is not likely to be that successful, even in today's market when many of the nation's housing markets are on fire. The numbers tell the story more pointedly. There are actually fewer bullseyes on the map than you might think if you are a mortgage lender looking for markets offering the best opportunities. That's because local/regional markets are likely to vary widely (as well as disproportionately) with statistics that reflect national performance because of differences in local market fundamentals. While purchase originations are forecast to increase 5.6 percent for the nation in 1999, 34 o...See the full content of this document
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