Government-insured mortgages skyrocket - Orlando Business Journal:

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FHA and VA loan applications roseto 35.9 percentg in June, up from 25.7 percent a month earlier and 27 percent a year earlier. Since the MBA survey'xs inception in January 1990, the lowesgt recorded share was 5.8 percent in August 2005. The government-insurexd share of applications to purchase homes last month was 38.6 percent, up from 27.8 percent one year ago. Thosew applications have averaged 36.6 percent to date, compared to an averagew of 21.8 percent during the same periodclast year. The low point was in August 2005 when itwas 6.8 the MBA reported.
"Aw primary reason government-insured loans have retained a high share of the purchas e market is that these loans typically require lowetr down payments thanconventional loans," Orawin MBA's associate VP of economiv forecasting, said in a news release. "In lending standards tend to be tightet forconventional loans, especially for loanxs that require private mortgage