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News, Page 23

Lenders begin easing requirements to get a mortgage

A closely watched index that tracks mortgage credit availability — lender requirements on credit scores, down payments and other key loan terms — has some good news for potential home buyers: Things are finally loosening up.

mortgage loans down 3%

mortgage loans drawn down in January decreased 2.7% month-on-month to $21.3 billion, the Monetary Authority announced today. mortgage loans approved increased 21.4% to $30.3 billion. Among these, mortgage loans for primary market transactions rose 43.7% to $7.9 billion, and those for secondary market transactions increased 18.1% to $17.8 billion. mortgage loans for refinancing rose 4.6% to $4.6 …

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