Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment.

There’s some optimism, however. With the central bank expected to cut interest rates this year, banks reported that loan demand should strengthen across residential loan categories in 2024, according to the Fed’s quarterly senior loan officer opinion survey (SLOOS) released on Monday. 

The survey showed that nearly 15% net share of banks reported having tightened standards on non-qualified-mortgage (QM) jumbo residential loans (14.6%) and QM jumbo loans details ⇒

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