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HomeLatest News58% of borrowers received mortgage approval in 2022 KXan 36 Daily News

58% of borrowers received mortgage approval in 2022 KXan 36 Daily News

Date: March 28, 2024 Time: 16:23:50

As in 2021, an average of 58% of applications were approved, analysts say. This is despite the plunge in April to the 42% level.

In the second half of 2022, the indicator rose to 60-65% against the background of easing of credit standards by banks.

The ratio of past-due debt has been steadily declining over the past three years. At the beginning of 2020, there was 1% of nonperforming mortgage loans, a year later – 0.8%, then the ratio of nonperforming debt decreased to 0.5%, and over the last year – to 0.4%.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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