The news continues to be poor for the housing market. Prices of single-family homes fell in January compared with a year ago, posting the worst results in over 13 years.  A report released by Standards & Poor’s on Tuesday showed the drop of 0.7%.  In January of1994 the drop was .09%.

On a year-over-year basis, 11 of the 20 cities in the S&P index showed lower prices.

Mortgage Brokers have been feeling this pinch for some time now.  One way to combat the loss of income is to expand your territories into markets that have not been effected as much.  Please visit our Mortgage Broker Bond page to learn more and apply.