Mortgage credit availability saw the scantest of increases last month, according to new data released by the Mortgage Bankers Association (MBA).
The Mortgage Credit Availability Index (MCAI) recorded a tiny 0.1 percent increase in June, reaching a level of 178.5. Three of the four component indices were on the rise last month: the Conforming and Conventional MCAI (both up 0.9 percent) and the Jumbo MCAI (up 0.8 percent). The Government MCAI, however, dropped by 0.4 percent.
“Mortgage credit availability increased slightly by 0.1 percent in June lifted by expansion among jumbo loan programs and additional availability of affordable conforming loan programs,” said
MBA’s Vice President of Research and Economics Lynn Fisher.
Should lead to minimal excess housing supply and have no measurable reduction in housing prices.
More than 4 million existing-homes for sale annually over the next decade will come from the aging and mortality of older homeowners, yet sustained homebuyer demand from population growth and younger generation households should lead to minimal excess housing supply and have...
Marks the 16th consecutive month of double-digit price increases.
CoreLogic’s May Home Price Insights report revealed that home prices nationwide, including distressed sales, increased 20% in May 2022 from a year earlier. No states posted an annual decline in home prices.
On a month-over-month basis, home prices increased 1.8% in May fro...