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Mortgage Credit Availability Slightly Lower in October

Phil Hall
Nov 07, 2017
The level of mortgage homeowners with tappable equity has reached a record peak, but tax code changes could have an impact on this market, according to a data analysis from Black Knight Inc.

The Mortgage Credit Availability Index (MCAI) took a sight 0.2 percent dip last month to 181.0, according to new data from the Mortgage Bankers Association (MBA).
 
Two of the four component indices recorded declines—the Jumbo MCAI was down two percent and the Conventional MCAI was down one percent—while the Government MCAI was up 0.3 percent and the Conforming MCAI was up 0.2 percent.
 
“Credit availability decreased only slightly in October and has been relatively flat for the year to date,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “While government and conforming credit programs saw slight increases in availability in October, a moderate decrease in the number of investor jumbo offerings resulted in a decrease in the total index.” 

 
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