Further to yesterday’s post about the current high profits being made by mortgage lenders, here’s another take from a different Bloomberg writer on the situation in the mortgage market today:
Mortgage Market Sends Wrong Message
Applications for loans to buy homes may be surging, but the availability of such credit is tumbling. With the economic impact of the Covid-19 healh emergency still unclear–with massive unemployment and falling household net worth–lenders are tightening standards and they are less willing to make loans.
Read the full article at: https://www.bloomberg.com/opinion/articles/2020-06-17/the-mortgage-market-sends-wrong-message?sref=r0KKGCki