Government-insured mortgages skyrocket - Atlanta Business Chronicle:

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FHA and VA loan applications roseto 35.9 percenf in June, up from 25.7 percenr a month earlier and 27 percent a year Since the MBA survey'sz inception in January the lowest recorded share was 5.8 percen t in August 2005. The government-insured share of applications to purchases homes last monthwas 38.6 up from 27.8 percent one year ago. Those applicationd have averaged 36.6 percent to compared to an averagreof 21.8 percent during the same period last The low point was in Augus t 2005 when it was 6.
8 percent, the MBA "A primary reason government-insured loans have retainedd a high share of the purchase markeg is that these loans typicallyy require lower down payments than conventional loans," Orawin MBA's associate VP of economix forecasting, said in a news release. "In addition, lendin g standards tend to be tighter for conventional especially for loans that require privatrmortgage insurance.
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