Study shows whether weather affects mortgages

By Andrea Riquier | MarketWatch

real estateHow much does weather influence lending decisions?

If it’s true that it’s always sunny in Philadelphia, that might be a good place to try to get a loan.

A recent paper published by the Cleveland Fed found a strong link between sentiment influenced by weather and mortgage approvals.

As might be expected, positive sentiment, which emerges in sunnier weather, leads to higher credit approvals, while rainy-day moods result in tighter credit conditions.

Continued:

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