Lending Standards Stubbornly High.
Mike Orr of ASU pointed to difficulties obtaining financing in all price ranges as a drag on the housing market. Talk of an easing of credit requirements in 2015 was just that, talk, as “lending standards remain stubbornly high”. For example, the average FICO score for FHA loans in January of 2015 was 682. This number rose to 689 in June through October and was 687 in November.