A new year is about to dawn—and the outlook on the housing market is
definitely
brighter. After all, 2014 was the best year in the U.S. economic
recovery since 2008-2009. Even as the housing market gets back on track,
the numbers of first-time buyers continue to disappoint. This is
strongly associated with the tight credit requirements facing would-be
buyers. The new
standards should lead to thousands more consumers being able to get a
mortgage and should also speed up the underwriting and approval process.
Measures of mortgage credit availability from the Mortgage Bankers
Association already indicate a slight loosening of credit in November
prior to these rules going into effect. Housing Market Predictions for 2015:
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