American home lenders expect leaner times

American home lenders expect leaner times

American mortgage lenders are actually bracing for rockier times because consumers demand for home loans keeps going down and competition in the mortgage industry surges, according to Fannie Mae's latest quarterly poll, issued on Monday.

Some lenders are concerned over a squeeze on their profit margin, though the number of them has decreased since the fourth quarter of 2016. That’s what the survey with the 184 mortgage executives revealed.  

Responding to a tougher climate, many lenders told that they intend to ease their lending standards in an attempt to attract more borrowers, as survey data disclosed.

In addition to this, the margin on the share of lenders who witnessed a dip in consumer demand for a loan to purchase a home for the last three months over the share of lenders who faced a leap in purchase loan demand edged down to approximately 30%, which is the lowest outcome for two years on a year-over-year basis.

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