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Released: February 13, 2017
Where have all the borrowers gone?
Source: Ben Lane, HousingWire
A recent report from the Mortgage Bankers Association showed that mortgage credit availability is increasing, meaning it’s getting easier to get a mortgage and has been since 2011.
Or so it would seem… A new report from the Urban Institute suggests that it’s actually more difficult to get a mortgage now than it was before the crisis.
The Urban Institute report shows that tight credit conditions “have discouraged consumers with less-than-perfect credit from applying for a loan, and many of these consumers are likely being filtered out in the preapproval process prevalent in today’s market.”
Read Full Article: Where have all the borrowers gone?
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