Home loans closed last month had lower credit scores, higher loan-to-value ratios and higher debt-to-income ratios than a year earlier. While turn times have improved over that same period, closing rates have not.
Two-thirds of all single-family loans that were originated during October were conventional loans. The share thinned from a 68 percent share one year prior.
At one-fifth, here was no change from a year earlier in the share of U.S. mortgage production that was insured by the Federal Housing Administration.
Source: Mortgage Daily
