Boston Area Homebuyers Fear Tougher Mortgage Requirements

Boston area homebuyers think credit access is about where it was two months ago. Perceptions remained largely unchanged with slightly more consumers thinking it will be either somewhat or much easier to get a loan a year from now. At the same time, more consumers said they think it will be much harder to obtain a mortgage, a possible reflection of more stringent lending requirements implemented in January.

The latest poll from the Federal Reserve Bank of New York shows Boston area homebuyers and generally, overall consumer expectations, stayed mostly flat in February. According to responses in the New York Fed’s most recent Survey of Consumer Expectations, Americans last month indicated a median home price change expectation of 4 percent, reversing an increase to 4.6 percent in January.

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