Jumbo and Conventional Loans See Increased Availability

Facebooktwitterlinkedin

Posted To: MND NewsWire

Mortgage credit availability scored a significant gain in July. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.7 percent in July to 184.1, apparently the highest level since MBA began publishing it in 2012 . An increase in the MCAI indicates that lending standards are easing while a decline is indicative of tightening credit. The index was benchmarked to 100 in March 2012. “Credit availability continued to expand, driven by an increase in conventional credit supply. More than half of the programs added were for jumbo loans, pushing the jumbo index to its fourth straight increase, and to its highest level since we started collecting these data. There was also continued growth in the conforming non-jumbo space, which reached its highest level…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Facebooktwitterredditpinterestlinkedinmail
Show Buttons
Hide Buttons