Tight Lending Restrictions Causing Decline in Home Sales

June 26, 2015
While it’s easier to get a mortgage today than it was last year, tight lending restrictions are still a problem, reducing the number of homes sales each year by more than 800,000, says the Mortgage Bankers Association.
A mortgage availability index from the association shows that the number of borrowers qualifying for a home loan increased 7 percent from 2014, but home sales could increase by as much as 15 percent if credit availability matched 1999-2000 levels.