The Qualified Mortgage, or QM rule, which was designed to protect borrowers from acquiring loans they cannot repay, was predicted by many to reduce the availability of mortgages. The law has been in effect since January of this year, so any change it’s made to lending patterns should be evident by now. After combing the data for the past several months, and despite recent headlines, the Housing Finance Policy Center team has seen surprisingly little impact on the origination numbers.
Data Show Surprisingly Little Impact of New Mortgage Rules
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