Easier lending boosts first-time buying; needed for recovery

Screen Shot 2015-10-19 at 9.20.42 AMHousingWire

Easing mortgage standards are allowing first-time homebuyers to finally jump into the housing market after a rough start to the year held a lot of them back.

According to a new report from Capital Economics, “Lenders have accelerated the easing of mortgage lending standards in recent months, thanks to a steady reduction in mortgage delinquencies and new GSE policies. That has started to boost the number of first-time buyers – a necessary development if the housing recovery is to continue.”

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