Economic Report: U.S. banks loosened commercial real estate lending standards for first time in almost 3 years: Fed

The New York skyline.

The numbers: Banks eased standards on commercial real estate loans for the first time in almost three years, according to the Fed’s quarterly survey of senior loan officers, released on Tuesday. Over the past year, banks eased important lending terms — including maximum loan size and the spread of loan rates over their cost of funds — on all three commercial real estate loan categories: construction and land development loans, nonfarm nonresidential loans and multifamily loans. Demand for all types of business lending reportedly weakened.

For consumers, mortgage loan standards were basically unchanged while standards for auto and credit card loans tightened modestly.

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