There has been a surge in mortgages, but according to The Wall Street Journal reporter Joe Light, it’s not necessarily a mortgage comeback.
“Real-estate-data firm Black Knight Financial Services said that in August 21% of mortgages to buy homes–as opposed to refinances–went to borrowers with credit scores below 700. That was down from 24% in August 2014 and from 40% in August 2005,” he writes, adding “don’t call it a comeback, the surge in mortgages to buy homes has come from borrowers with good credit.”
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