Residential Mortgages Experience Weaker Demand in First Quarter
According to the Federal Reserve Board’s April 2025 Senior Loan Officer Opinion Survey (SLOOS), overall demand for residential mortgages weakened, while lending standards remained largely unchanged across most mortgage types. However, non-qualified mortgage (non-QM) jumbo loans experienced a significant tightening in lending standards, with a net easing index of -7.5. In the commercial real estate (CRE) sector, lending standards for construction and development loans were moderately tighter, and demand was modestly weaker; multifamily loans, however, saw lending conditions and demand remain essentially unchanged for the second consecutive quarter.
