Morning Minute: Mortgage applications down but lending standards may be loosening

The number of mortgage applications by consumers seeking to buy a home or refinance one they already own dropped slightly last week. Mortgage applications were down 1.8 percent last week, according to the Mortgage Bankers Association, which cited rising interest rates as the reason for the change. USA Today has the details.

On a more positive note, the group’s latest Mortgage Credit Availability Index found that underwriting standards loosened a bit in October, which could make it easier for more consumers to buy a home. Read more from HousingWire.

In other headlines:

Real estate brokerages Prudential Rubloff, Koenig & Strey to combine – Chicago Tribune

Chicago Spire Tried, Failed to be Tallest Building In US – NBC 5 Chicago

Gender Identity Added to Code of Ethics – REALTOR.org

 

This entry was posted in Consumer Information, Housing Market by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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