Closing Rate, Purchase Share Up as Credit Tighter

The good news is that productivity and purchase-share increased last month on home lending. But credit conditions tightened and turnaround slowed.

Conventional mortgages made up 64 percent of all residential loans that were closed during May. The share was no different than one month prior.

Another 23 percent were loans insured by the Federal Housing Administration, and 9 percent were guaranteed by the Department of Veterans Affairs.

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From:: Financing