Demand for mortgage loans strong in second quarter: Fed
Mortgage loan demand continued to grow in the second quarter but fewer banks eased lending standards than in the prior three months, a Federal Reserve senior loan officer survey released Monday showed. Only seven banks said they had eased standards on mortgage loans somewhat on GSE-eligible loans in the second quarter, down from 13 in the first quarter. Banks reported little change to business lending over the second quarter. Most banks reported no change on standards for consumer loans. There was stronger demand for auto and credit card loans. The Fed surveys domestic banks and foreign banks operating in the U.S. each quarter to gauge credit conditions.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.