Dive Brief:

• It’s almost as easy for homebuyers to qualify for mortgages now as it was in 2002, and it is “significantly” easier than it was a year ago, according to Zillow’s first Mortgage Access Index.

• The housing market crash created the tightest-ever credit market in 2007, the survey revealed.

• Lenders have eased up on their standards for credit scores and debt-to-income ratio, the survey reported. Banks are offering conventional loans with private mortgage insurance to borrowers who would have been eligible only for FHA loans a year ago, Zillow said.

Dive Insight:

While some lenders and economists are queasy about looser credit standards—which contributed to the recession—the greater availability of credit could be good for the housing market. Easier access to mortgage loans could get more first-time buyers into entry-level homes and jump-start that segment of the market.