Going to Be Tougher for Lots of People to Even Get a Mortgage. Expensive Housing Markets Most Affected.

by Wolf Richter
Wolf Street

Availability of Jumbo Mortgages Plunges.

That mortgage lending standards have suddenly tightened in just a few weeks – and in some areas drastically, such as jumbo mortgages – has been reported in bits and pieces by boots-on-the-ground mortgage brokers and mortgage bankers. But how loose were those lending standards to begin with, and how did they compare to the lending standards in mid-2006 right before the Housing Bust and Mortgage Crisis, and by how much have those lending standards now tightened?

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