Government-Insured Mortgages Triple

Philadelphia Inquirer (08/19/08); Heavens, Alan J.
Applications for government-insured mortgages continue to rise. The Mortgage Bankers Association reports that government-backed financing accounted for 29.1 percent of all home loan applications in July, up from 8.4 percent during the same month of last year. Most of the applications for government-insured loans involved FHA mortgages. Although demand for federally insured loans have been on the rise since February 2007, the largest gains have occurred in 2008.