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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.
MBA’s Vice President of Research and Economics Lynn Fisher.
