Access to mortgage credit is at its highest level in at
least three years, and credit standards are expected to loosen even more this
year, according to a newly-released index by the Mortgage Bankers Association.
MBA’s index, which tracks mortgage credit availability,
shows that in March the gauge rose to 114 – the highest reading in the gauge’s
three-year history.
“I don’t think there’s any question that mortgage
underwriting has gotten easier or is looser than it was two or three years ago,
but it’s nowhere near where it was in 2005, 2006,” Guy Cecala, publisher Inside
Mortgage Finance, told The Wall Street Journal. “We are talking about easing
from extremely tight underwriting standards.” Read More...
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