Mortgage Bankers Association (MBA)

Credit availability continued to tighten in May, according to data from the Mortgage Credit Availability Index.

On an unadjusted basis, the Index decreased 17% compared with the previous week.

According to the latest Mortgage Bankers Association weekly mortgage application survey, applications decreased by 2.3% from last week.

The national median payment applied for by applicants jumped 8.8% in April to $1,889 from $1,736 in March.

Adam DeSanctis promoted from role as director of public affairs.

Applications fell 1.2% from a week earlier.