Demand for mortgages lowest since before the pandemic

After adjusting for seasonal patterns, requests for purchase loans were down 3 percent from the week before and 2 percent from a year ago. Demand for mortgages dropped during the last week of May to levels not seen since before the pandemic, according to the latest data from the Mortgage Bankers Association’s Weekly Mortgage Applications … Read more

Mortgage lending standards ease for refinances

Mortgage lenders continued to ease underwriting standards in April, but only for borrowers who were refinancing. For both homebuyers and homeowners seeking to refinance, credit still remains tighter than before the pandemic, which helped pushed average FICO scores on closed loans up by nearly 20 points last year. Mortgage lenders continued to ease underwriting standards … Read more

Tampa Bay News