Atlanta Federal Reserve president Dennis Lockhart said Tuesday morning that despite rock bottom mortgage rates, housing conditions in his district are not improving much.
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Lockhart said from a "housing point of view" there is "some activity" in the home buying market, "but there is no broad improvement."
Speaking on CNBC, he said he is skeptical that ultra low mortgage rates are bringing in much activity.
He also worried that current tight loan standards are making it tough for borrowers to quality for a mortgage. "I'm still hearing that there's a long way to go" before housing conditions improve in the Atlanta Fed district.
