General World News

Banks report tighter lending standards, weaker demand for mortgages and HELOCs

Many U.S. banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation.

Banks expect to further tighten standards for the remainder of the year, according to the Fed’s quarterly senior loan officer opinion survey (SLOOS) released on Monday. 

The survey showed that a 20%-plus net share of banks reported having tightened standards details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com