23 Mar. 2016 Mortgage Lending Conditions Improving - Where are the Sales?
23rd Mar 2016 05:20U.S., Economic Monitor
Further evidence emerged yesterday in support of our view that mortgage lending conditions are easing. The monthly mortgage origination report from Ellie Mae, Inc., a private mortgage processing firm, shows average credit scores for both successful and unsuccessful loan applications continue to trend downwards--though the latter rose marginally in February--while loans are closing much more quickly than in the recent past.
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