In February Goldman analysts introduced a new composite measure for monitoring residential lending standards. The data is derived from the Fed's senior loan officer survey.
The data for Q3 released on August 3rd highlights some very bullish data for the US housing market. Currently mortgage lending standards have remained tight relative to historic levels and Goldman says these standards have been easing at a healthy rate since the middle of 2014:
As standards have eased the demand for mortgages has steadily increased:
The recent data on housing has been bullish and the strength in mortgage demand returning as lending standards ease signals more stength to come for the housing sector.
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