Surveyed Banks Report Weaker Demand Across All Seven Mortgage Categories
Photo: TokenPost
Surveyed banks reported weaker demand across all seven categories of home-purchase mortgages in the third quarter, while lending standards changed little for most types of loans. The results cover banks’ reports of changing demand, rather than mortgage applications or completed loans. The Federal Reserve released its October Senior Loan Officer Opinion Survey on Bank Lending Practices on Monday, Nov. 2, at 2 p.m. ET (19:00 UTC). Net demand balances ranged from -40.0 percentage points for subprime mortgages, with 10 responses, to -25.5 points for nonqualified-mortgage (non-QM) jumbo loans, with 47 responses.
Source: TokenPost
