As government-insured mortgage share has diminished over the past year, the time to close has shortened. But it has become slightly more difficult to qualify for a home loan.
Conventional mortgages accounted for more than two thirds of all loans closed during February, widening from a 63 percent share in the same month last year.
At the same time, the share of loans that were insured by the Federal Housing Administration thinned to 19 percent from 23 percent in February 2017.
Source: Mortgage Daily