Morning Minute: Mortgage applications down but lending standards may be loosening

The number of mortgage applications by consumers seeking to buy a home or refinance one they already own dropped slightly last week. Mortgage applications were down 1.8 percent last week, according to the Mortgage Bankers Association, which cited rising interest rates as the reason for the change. USA Today has the details.

On a more positive note, the group’s latest Mortgage Credit Availability Index found that underwriting standards loosened a bit in October, which could make it easier for more consumers to buy a home. Read more from HousingWire.

In other headlines:

Real estate brokerages Prudential Rubloff, Koenig & Strey to combine – Chicago Tribune

Chicago Spire Tried, Failed to be Tallest Building In US – NBC 5 Chicago

Gender Identity Added to Code of Ethics – REALTOR.org

 

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