[MCN] Affordable housing

[Lance Olsen]

The Wall Street Journal  Updated May 9, 2019 6:22 a.m. ET

Small Mortgages Are Getting Harder to Come By
Lenders are offering fewer mortgages for cheaper properties even while racing to serve deep-pocketed home buyers
By Ben Eisen

Some low- and middle-income home buyers are having a hard time getting mortgages for an unexpected reason: The loans they’re applying for are too small.

Lenders extended about 106,000 mortgages with balances between $10,000 and $70,000 in the U.S. last year, worth $5.1 billion. That is down 38% from almost 171,000 in 2009, according to figures compiled by Attom Data Solutions, a real-estate data firm. The drop-off at the bottom end of the market has been far swifter than at the top. Origination was down a more modest 26%...

The rest is behind paywall
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