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Michael Totman
508-386-5000508-386-5000

Buy a home in Worcester County Massachusetts | Is It Easy To Get a Mortgage or Is It a Bubble?

There is no shortage of horror stories from the last housing bubble, but are we heading there now? Some people would have you believe yes, but that may not be the case.  Here in Worcester county we are starting to see some more inventory come online which will help with the price pressures.

Real estate is shifting to a more normal market; the days of national home appreciation topping 6%, or more in Massachusetts, annually are over and inventories are increasing which is causing bidding wars to almost disappear. Some see these as signs that the market will soon come tumbling down as it did in 2008.

As it becomes easier for buyers to obtain mortgages, many are suggesting that this is definite proof that banks are repeating the same mistakes they made a decade ago. Today, we want to assure everyone that we are not heading to another housing “bubble & bust.”

Each month, the Mortgage Bankers’ Association (MBA) releases a measurement which indicates the availability of mortgage credit known as the Mortgage Credit Availability Index (MCAI). According to the MBA:

“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is calculated using several factors related to borrower eligibility (credit score, loan type, loan-to-value ratio, etc.).” *

The higher the measurement, the easier it is to get a mortgage. During the buildup to the last housing bubble, the measurement sat at around 400. In 2005 and 2006, the measurement more than doubled to over 800 and was still at almost 600 in 2007. When the market crashed in 2008, the index fell to just over 100.

Over the last decade, as credit began to ease, the index increased to where it is today at 186.7 – still less than half of what it was prior to the buildup of last decade and less than one-quarter of where it was during the bubble.

Here is a graph depicting this information (remember, the higher the index, the easier it was to get a mortgage):

No Bubble Here! How New Mortgage Standards Are Helping | MyKCM

Bottom Line

If  you have any interest in buying a house, or want a price analysis for your own home in Worcester County, MA. then give me a call today! I'm Mike Totman with Bridge Realty, 508.386.5000!

Though mortgage standards have loosened somewhat during the last few years, we are nowhere near the standards that helped create the housing crisis ten years ago.  My team here at Bridge Realty can help you with all your real estate needs!

*For more information on the MCAI, including methodology, FAQs, and other helpful resources, please click here.


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  1. Photo of 125 Pierce, Unit A, Townsend, MA 01469 (MLS # 72445247)
    13
    1 bed,  1 full bath
    946 sqft   lot 10,000 sqft
    Walk Score® 2
    Listed with Townsend Center Realty
    MLS 72445247
  2. Photo of 21 Plain Street, Natick, MA 01760 (MLS # 72445246)
    27
    Open House
    4 beds,  2 full, 1 half baths
    2,620 sqft   lot 6,098 sqft
    Walk Score® 77
    Listed with Benoit Mizner Simon & Co. - Wellesley - Central St
    MLS 72445246
  3. Photo of 36 Joyce Rd, Medford, MA 02155 (MLS # 72445245)
    22
    Open House
    3 beds,  2 full baths
    1,854 sqft   lot 5,042 sqft
    Walk Score® 32
    Listed with RE/MAX Destiny
    MLS 72445245
  4. Photo of 4 Peartree Lane, Wayland, MA 01778 (MLS # 72445243)
    13
    5 beds,  4 full, 1 half baths
    6,297 sqft   lot 1.81 ac
    Walk Score® 5
    Listed with Comrie Real Estate, Inc.
    MLS 72445243
  5. Photo of 8 Haddad Ave, Randolph, MA 02368 (MLS # 72445242)
    14
    3 beds,  2 full baths
    1,638 sqft   lot 1.13 ac
    Walk Score® 36
    Listed with Smith & Smith Real Estate
    MLS 72445242
  6. Photo of 11 Johnston Terrace, Saugus, MA 01906 (MLS # 72445241)
    16
    Open House
    4 beds,  2 full baths
    2,013 sqft   lot 7,423 sqft
    Walk Score® 45
    Listed with Ocean Real Estate
    MLS 72445241
  7. Photo of 347 Holly Road, Marshfield, MA 02050 (MLS # 72445240)
    30
    Open House
    3 beds,  2 full, 1 half baths
    2,600 sqft   lot 43,560 sqft
    Walk Score® 1
    Listed with Molisse Realty Group
    MLS 72445240
  8. Photo of 32 2nd St, Medford, MA 02155 (MLS # 72445236)
    17
    Open House
    5 beds,  1 full, 1 half baths
    2,157 sqft   lot 6,600 sqft
    Walk Score® 73
    Listed with Coldwell Banker Residential Brokerage - Newton - Centre St.
    MLS 72445236
  9. Photo of 80 Nashua St, Woburn, MA 01801 (MLS # 72445237)
    28
    Open House
    3 beds,  1 full bath
    1,229 sqft   lot 10,050 sqft
    Walk Score® 31
    Listed with Full Circle Realty LLC
    MLS 72445237
  10. Photo of 136-A Hosmer St, West Boylston, MA 01583 (MLS # 72445239)
    30
    Open House
    4 beds,  1 full, 1 half baths
    2,067 sqft   lot 43,560 sqft
    Walk Score® 1
    Listed with RE/MAX Prof Associates
    MLS 72445239
  11. Photo of 72 Windward Lane, Hanover, MA 02339 (MLS # 72445238)
    30
    Open House
    5 beds,  3 full, 2 half baths
    4,600 sqft   lot 38,332 sqft
    Walk Score® 6
    Listed with Coldwell Banker Residential Brokerage - Hingham
    MLS 72445238
  12. Photo of 38 Hilltop Rd, Sudbury, MA 01776 (MLS # 72445235)
    20
    Open House
    4 beds,  1 full, 1 half baths
    2,006 sqft   lot 40,117 sqft
    Walk Score® 7
    Listed with Coldwell Banker Residential Brokerage - Sudbury
    MLS 72445235
  13. Photo of 234 Corey St, Agawam, MA 01001 (MLS # 72445248)
    22
    5 beds,  3 full baths
    2,400 sqft   lot 2.90 ac
    Walk Score® 3
    Listed with Hampden Realty Center - Wilbraham
    MLS 72445248
  14. Photo of 17 Jones Ter, Unit 2, Stoughton, MA 02072 (MLS # 72445244)
    21
    2 beds,  1 full bath
    828 sqft   lot 9,999 sqft
    Walk Score® 70
    Listed with Desi Prime Realty, LLC
    MLS 72445244
  15. Photo of 8 Virginia, Natick, MA 01760 (MLS # 72445234)
    20
    3 beds,  2 full baths
    1,428 sqft   lot 12,458 sqft
    Walk Score® 32
    Listed with U3 Realty, LLC
    MLS 72445234
  16. Photo of 41 Dartmouth St, Unit 2, Somerville, MA 02145 (MLS # 72445233)
    14
    Open House
    2 beds,  1 full bath
    1,066 sqft  
    Walk Score® 84
    Listed with Coldwell Banker Residential Brokerage - Cambridge - Mass Ave.
    MLS 72445233
  17. Photo of 53 George St., Springfield, MA 01105 (MLS # 72445232)
    30
    5 beds,  3 full baths
    2,330 sqft   lot 6,730 sqft
    Walk Score® 72
    Listed with Hampden Realty Center, LLC
    MLS 72445232
  18. Photo of 4 Waterman Ave, East Longmeadow, MA 01028 (MLS # 72445231)
    28
    Open House
    3 beds,  1 full bath
    1,208 sqft   lot 10,000 sqft
    Walk Score® 34
    Listed with Keller Williams Realty
    MLS 72445231
  19. 8 beds,  2 full baths
    2,270 sqft   lot 5,049 sqft
    Walk Score® 84
    Listed with Keller Williams Realty
    MLS 72445230
  20. Photo of 150 Congress St, Milford, MA 01757 (MLS # 72445228)
    15
    Open House
    2 beds,  2 full baths
    1,336 sqft   lot 12,998 sqft
    Walk Score® 21
    Listed with Vesta Real Estate Group, Inc.
    MLS 72445228
  21. Photo of 221 Brown Street, Unit 1, Waltham, MA 02452 (MLS # 72445229)
    4
    2 beds,  1 full bath
    Walk Score® 77
    Listed with Cedar Crest Realty
    MLS 72445229
  22. Photo of 26 Carolyn Road, Weymouth, MA 02190 (MLS # 72445227)
    21
    Open House
    5 beds,  1 full, 1 half baths
    2,184 sqft   lot 11,761 sqft
    Walk Score® 34
    Listed with Abbey Realty
    MLS 72445227
  23. Photo of 139 Gay Street, Norwood, MA 02062 (MLS # 72445226)
    17
    3 beds,  1 full bath
    1,034 sqft   lot 11,057 sqft
    Walk Score® 45
    Listed with Donahue Real Estate Co.
    MLS 72445226
  24. Photo of 74 Elm St, Unit C, Framingham, MA 01701 (MLS # 72445225)
    29
    Open House
    2 beds,  2 full, 1 half baths
    1,320 sqft  
    Walk Score® 52
    Listed with Mega Realty Services
    MLS 72445225
  25. Photo of 67 Holden St, Attleboro, MA 02703 (MLS # 72445222)
    19
    Open House
    4 beds,  2 full baths
    2,135 sqft   lot 10,411 sqft
    Walk Score® 34
    Listed with Keller Williams Elite
    MLS 72445222
  26. Photo of 80 Karen Lynn Cir, Agawam, MA 01030 (MLS # 72445214)
    28
    Open House
    4 beds,  2 full baths
    1,685 sqft   lot 23,414 sqft
    Walk Score® 1
    Listed with Keller Williams Realty
    MLS 72445214
  27. Photo of 15 Torrey Lane, Duxbury, MA 02332 (MLS # 72445204)
    27
    Open House
    4 beds,  2 full, 1 half baths
    2,464 sqft   lot 1.24 ac
    Walk Score® 7
    Listed with Coldwell Banker Residential Brokerage - Duxbury
    MLS 72445204
  28. Photo of 5 Juniper Valley Ct, Beverly, MA 01915 (MLS # 72445224)
    28
    Open House
    4 beds,  3 full, 1 half baths
    5,286 sqft   lot 25,100 sqft
    Walk Score® 39
    Listed with Stockwood Realty LLC
    MLS 72445224
  29. Photo of 33 Woodlawn St, Lynn, MA 01904 (MLS # 72445216)
    3
    3 beds,  2 full baths
    1,422 sqft   lot 5,010 sqft
    Walk Score® 48
    Listed with United Brokers
    MLS 72445216
  30. Photo of 23 Lochland Rd, Boston, MA 02136 (MLS # 72445217)
    17
    Open House
    6 beds,  4 full baths
    3,378 sqft   lot 6,074 sqft
    Walk Score® 23
    Listed with Buyers Only LLC
    MLS 72445217
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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.