Brief Has the QM Rule Made It Harder to Get a Mortgage?
Bing Bai, Laurie Goodman, Ellen Seidman
Display Date
Download Report
(232.15 KB)

The qualified mortgage rule introduced in January 2014 was designed to prevent borrowers from acquiring unaffordable loans and to protect lenders from potential litigation. Many experts worry that the rule has contributed to the reduction in mortgage credit availability that has hit low-income and minority borrowers hardest. In this updated analysis, we find that the rule has had little impact on the availability of mortgage credit, largely because the market had already changed before the rule took effect.
Research Areas Housing finance Housing
Tags Federal housing programs and policies Housing markets Housing and the economy Single-family finance Agency securitization Credit availability Homeownership Finance
Policy Centers Housing Finance Policy Center