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Home » Fannie Analysis on Reaching Repeat Creditworthy Borrowers
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Fannie Analysis on Reaching Repeat Creditworthy Borrowers

December 4, 2015
Fannie Mae said that in the midst of trying to reach first-time homebuyers, a new trend has emerged with existing homeowners struggling to become repeat, move-up buyers.There was a 40 percent decrease in repeat buyers from 2002 to 2014, according to recent commentary from Jude Landis, vice president, single-family credit policy at Fannie. Credit did not appear to be holding them back either, because even among homeowners with mid-tier credit scores, between 680 and 740, the number of repeat home purchases dropped dramatically. “Owners of their first homes may have the credit eligibility to move up, but low housing equity appear to be holding them back,” she said.
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