Credit Accessibility Dips Slightly

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Posted To: MND NewsWire

There was a very slight downward change in the availability of mortgage credit last month, driven primarily by on ongoing slippage in the availability of conforming loans. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) declined 0.2 percent in April to 183.0. A decrease in the index indicates a tightening of lending standards. Lynn Fisher, MBA’s Vice President of Research and Economics said, “After some program changes early in the year and some merger activity among investors, credit availability held fairly steady in April with little discernable change in the composition of the supply of credit for government and jumbo programs. Conforming credit availability has slipped a bit since the beginning of the year, with fewer program offerings along a…(read more)

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