Underwriting standards, not a lack of income or significant student loan debt, have held back originations of mortgages to first-time homebuyers in recent years, according to industry analysts. As lenders gradually loosen their underwriting standards, originations of mortgages for first-time homebuyers are expected to increase in the coming years. In a recent brief, analysts at Capital Economics stressed that there doesn’t appear to have been a fundamental shift in homeownership aspirations, even though housing is currently slightly over-valued compared with renting. “There is...