Lenders are more optimistic about the direction of the housing recovery, with
71 percent recently surveyed saying home prices are “rising at a sustainable
pace,” according to a quarterly survey of U.S. bank professionals conducted by
FICO.
Nearly 60 percent of the bankers surveyed say they expect the supply of
credit for residential mortgages to meet demand over the next six months.
What’s more, 39 percent say they expect mortgage delinquencies to fall in the
next six months, while 45 percent of those surveyed say they expect
delinquencies to remain flat. According to FICO, that represents the most
optimistic data on delinquencies in the 12 quarters since the survey began.
"The latest survey results, combined with data that indicates the real estate
market is improving in many regions, paint a positive picture for a sector of
the economy that has been slow to join the recovery," says Andrew Jennings,
chief analytics officer at FICO and head of FICO Labs. "Mortgage lenders have
been understandably guarded over the past five years. The improvement in their
sentiment should be welcome news, and I wouldn't be surprised to see lenders
cautiously expanding their mortgage and home-equity lending businesses."
Source: FICO
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