Mortgage Poised to Rise in 2016
Preliminary indications show that mortgage credit may be easier to obtain in 2016 than it was during 2015, which should help bolster home sales.
Although the Great Recession officially ended in 2009, mortgage lending had been slow to recover. This was due to a variety of factors including supply, which was impacted by tighter regulations on lending imposed by Dodd-Frank and the Consumer Financial Protection Bureau, and weaker demand due to slack in the labor markets and the number of potential borrowers with a bankruptcy, foreclosure, or short sales on their credit reports.
Overall, lending is finally starting to rise across the board and suggesting that it is getting easier to obtain financing.
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