Zillow says that access to mortgages is about two-thirds of the way back to pre-housing crisis levels
According to Zillow’s inaugural Mortgage Access Index, getting a mortgage now is considerably easier than it was a year ago.
Moreover, access to mortgage is around two-thirds of the way back to 2002 level, before the housing bubble and burst which distorted home values and borrowers’ ability to purchase homes.
The index shows that lenders have opened their doors wider compared to any other point post the Great Recession.
The ZMAI takes into account credit scores, debt-to-income ratios, private mortgage insurance, second mortgages, non-conforming loans, the mortgage rate spread and Zillow Mortgage Quotes.