Mar 20

Mortgage Lenders Say Credit Is Easing

Mortgage Lenders Say Credit Is Easing

 

Mortgage Lenders Say Credit Is Easing. Image courtesy of stockimages / FreeDigitalPhotos.net

Mortgage Lenders Say Credit Is Easing. Image courtesy of stockimages / FreeDigitalPhotos.net

More lenders expect mortgage demand and profit margins to increase over the next three months, according to Fannie Mae’s first quarter 2015 Mortgage Lender Sentiment Survey.

More lenders say the credit tightening is softening, according to the survey. Seventy-one percent of lenders surveyed about government-sponsored enterprise purchase loans say they expect purchase mortgage demand to rise over the next three months. That’s a notable increase from last year, when 59 percent of lenders were optimistic about an increase.

What’s more, 41 percent of lenders report they expect their profit margins to rise, compared to only 21 percent who were upbeat about their profits last year.

“These results are consistent with our view that an improving economy, strengthening employment, and increasing consumer confidence should support a modest housing expansion in 2015, after an uneven and disappointing year for housing activity in 2014,” says Doug Duncan, Fannie Mae’s chief economist.

The message seems to be getting out to consumers too. Fannie Mae’s recent National Housing Survey, a poll of around 1,000 Americans, showed that 54 percent of consumers say that they believe getting a mortgage is now easy – a survey high.

Source: Fannie Mae

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