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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