Fed survey finds demand for prime mortgages rising, some easing of credit standards
The Wall Street Journal calls it the largest wave of lenders loosening standards for prime mortgages since the housing bust.
In the July Federal Reserve quarterly survey on bank senior loan officers, nearly 60 percent of large banks said demand for prime mortgages is increasing, and roughly 40% said they were loosening their credit standards for those loans. The survey found “the largest such movement by lenders since the housing bust hit nearly eight years ago,” according to the Wall Street Journal.
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