Construction Loans Are Becoming More Available

While the home construction market is still experiencing setbacks, home builders say that obtaining a construction loan is not one of them, the Wall Street Journal reports.

Lenders have slowly increased their spending pace for both commercial and residential construction.

According to figures from the Federal Deposit Insurance Corp., outstanding balances on construction loans totaled $255.8 billion in the second quarter, up 3.9 percent from the first quarter.

Construction lending has been rising since it was at its lowest point at $201.5 billion in early 2013. Lending reached a peak of more than $600 million in 2007 and 2008.

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