The MReport Webcast: Friday 3/25/2016

Fewer mortgage lenders are reporting that they are loosening credit standards, and many do not expect credit to become more accessible over the next few months. Fannie Mae reported that 13 percent of lenders surveyed noted that credit standards eased over the last three months in the first quarter of 2016, down from 17 percent in the previous quarter.

Over the next three months, 13 percent of lenders said credit standards will ease, down from 18 percent last quarter. Five percent of lenders said that credit tightened over the last three months, up from 4 percent last quarter. Only 7 percent of lenders said credit will tighten over the next three months, the same as last quarter.

A new online survey from Chase found that homeowners are struggling with a fear of missing out on other opportunities and are beginning to search for homes on digital platforms. According to the survey, 72 percent of homeowners don’t expect to stay in their homes for the long-term. This suggests that endless sources of information available through technology is leading homeowners to continually look for the next best thing. In addition, Chase found that 68 percent of consumers are starting the process on their own, with over 50 percent turning to a mobile device or online.