By Andrea Riquier | MarketWatch
How 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.