MarketWatch reports on a survey released this week by the Federal Reserve, which showed further strengthening in the demand for mortgages in the U.S.
The trend for stronger demand for mortgage loans continued in the second quarter, a Federal Reserve senior loan officer survey released Monday showed, suggesting financial strains on households are easing.
About 44% of banks reported moderately stronger demand for mortgages, compared with only 5% reporting weaker demand, according to the survey of 71 domestic and 23 branches of foreign banks operating in the U.S.
The increase in mortgage demand was across the spectrum, including both jumbo and non-jumbo mortgages.
This report affirms Fed Chairwoman Janet Yellen’s recent testimony that U.S. households have to “wherewithal and confidence” to boost spending, said Millan Mulraine, economist at TD Securities.
