Some buyers might struggle to gain approval for a home loan as lenders are starting to tighten their credit standards. The Mortgage Bankers Association said that mortgage credit availability, which is a measure of lender’s willingness to approve a home loan, is now at its lowest level since 2014. “Because mortgage credit is more difficult
Mortgage rates fall again but credit availability gets tighter
October 21, 2020 by
Mortgage rates are at an all-time low, but that’s just too bad for the thousands of potential home buyers who’re missing out on the action due to tighter lending standards. According to Bloomberg News, housing credit availability has reached its lowest level since February 2014. Back in January of 2019, Ginnie Mae, which is a
Retirees Fall Foul of Tight Lending Standards
May 31, 2012 by
Decreased monthly incomes among retirees are making it more difficult for people in this age group to buy homes, as many are now unable to qualify for a mortgage now that lending standards have been tightened up.
Just Who Does Qualify For a Loan These Days?
May 23, 2012 by
The answer? Not many, that’s who… While mortgage rates are being advertised as the lowest in a lifetime, the simple fact is that thousands of prospective buyers will never qualify for them.
Borrowers Face “Interrogation” From Mortgage Lenders
May 16, 2012 by
The majority of consumers fail to realize exactly what lenders will ask them about when it comes to applying for a mortgage loan, and as a result, many borrowers are shocked about some of the things that banks will ask of them.
Mortgages Harder Than Ever to Obtain
May 14, 2012 by
Mortgages have become notoriously difficult to obtain, even among some of the most creditworthy borrowers, and lending standards are unlikely to be eased any time soon, according to Federal Reserve Chairman Ben Bernanke.
Federal Reserve Move May Reduce Interest Rates Further
September 23, 2011 by
The Federal Reserve is to try a new strategy in its attempt to reduce business and consumer borrowing costs and encourage economic growth in the U.S., in spite of Republican pleas not to expand its stimulus program any further, reports the New York Times. Last Wednesday the Federal Reserve said that over the next nine
Is Now Really Such a Great Time To Buy?
May 10, 2011 by
“Now is a great time to buy” Yeah, we’ve heard that so many times over the last few months, and no doubt so have you. We wouldn’t be surprised if you were actually sick of hearing it, it’s been repeated so much over the last few months. But, according to Zillow at least, now really
