Buying Conditions

The slide in mortgage rates and better lending conditions for qualified buyers continues to create favorable conditions for would be buyers. The latest Senior Loan Officer Survey showed that a modest net fraction of lenders eased standards for prime mortgages in the second quarter. While most nominal home price measures are now showing some price appreciation, housing affordability will reamin favorable as the rise in home pricces is expected to be gradual. Sales activity will also likely to continue to improve.