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.

Similar

German ZEW economic sentiment tacks on in January

In January, German economic sentiment inched up more than anticipated, while the current conditions index reached a record maximum, driving optimism over the strength of the EU’s number one economy, as industry data reported on Tuesday…

Popular

Yen climbs up in Asia trade

On Friday, the Japanese yen leapt in Asia on safe-haven demand because political turmoil in Brazil reached risk sentiment and financial markets became cautious ahead of the weekend…

Pound tumbles vs yen

On Tuesday, the British pound sank versus the Japanese yen after a suspected terrorist attack at a concert in Manchester, while the common currency hovered close to a six-month peak versus the greenback after German Chancellor Angela Merkel told that the…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera