By Brian Collins
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Banks increased their lending to single-family homebuilders in the first quarter by $2.3 billion, nearly 18% higher compared to the same quarter in 2015, according to a new report by the National Association of Home Builders.
As of March, the outstanding stock of one- to four-family residential construction loans rose to $63.2 billion, according to the group's analysis of recent Federal Deposit Insurance Corp. data.
"The year-over-year growth of 18% in construction lending is consistent with our 2016 forecast," said Robert Dietz, the group's chief economist.
NAHB's forecast calls for 806,000 single-family starts this year, up 13% from 2015.
However, builders are noticing some tightening on the part of community banks and ... Read the complete article at National Mortgage News website