Mortgage Credit Eases for 4th Straight Month

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Posted To: MND NewsWire

Access to credit continued to inch up last month according to the Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI). The index rose 0.6 percent to 175.2 in December. An increase in the index indicates that lending standards are loosening . Lynn Fisher, MBS’s Vice President of Research and Economics said, “Credit availability was up for the fourth consecutive month in December driven by jumbo loan programs as well as loan programs for borrowers with lower credit scores and low down payments.” Of the four component indices, the greatest increase, as noted by Fisher, was in the Jumbo MCAI which rose 1.3 percent. The Conventional MCAI increased by 0.7 percent, the Government MCAI by 0.6 percent, and the Conforming component by 0.04 percent. The MCAI and its components…(read more)

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