Home lenders have continued to loosen their standards compared to a year ago as turnaround has improved over the period. Refinance share was the widest it’s been 10 months.
Conventional mortgages accounted for 66 percent of all residential loans closed during December. The share was the same as it was in the final month of 2016.
Mortgages that were insured by the Federal Housing Administration made up one-fifth of last month’s originations, also no different than in December 2016.
Source: Mortgage Daily