Subprime Lending Changed the Mortgage News Industry

Posted on | May 3, 2009 | 1 Comment

Prior to February of 2007, “Mortgage News” was a keyword that was searched at a rather consistent rate.  There were seasonal peaks and valleys as there are with many keyword searches, but there were rarely extreme peaks that showed national interest.  In February of 2007 that all changed!  When the subprime mortgage crisis became national news, mortgage news saw a 200% jump in searches; “Subprime” saw a 500% jump!  Since the beginning of the subprime mortgage crisis, mortgage news searches have increased consistently month vs. month of the previous year.

Part of the jump in searches is due to the lowest mortgage rates in modern history, but what caused that?  Subprime lending!  If subprime lending did not occur during the housing boom, we would not be in the financial predicament we are in right now and mortgage rates would not be under 4.8%.  Now that mortgage news is a heavily searched keyword, many corporations are going after this trend.  Several websites have been created solely for mortgage news.  These resources did not exist before the subprime mortgage crisis.

Now that subprime lending changed the mortgage news industry, it is your chance to gain valuable information at no cost.  You have the opportunity to gain information that was once never available as mortgage brokers do not want you to know how the industry works.  Well, too bad for them, because you have an amazing amount of information at your fingertips and I hope you use it wisely to get the lowest mortgage rate in your lifetime.

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