Mortgage Credit Availability Inches Up

Oct 08, 2019

The 17th century property that reportedly inspired Emily Brontë's literary masterpiece Wuthering Heights has been listed for sale for $1.6 million

Mortgage credit availability increased in September, according to new data from the Mortgage Bankers Association (MBA).

The trade group’s Mortgage Credit Availability Index (MCAI) was up by 0.9 percent to 183.4 last month. The Conventional MCAI increased by 2.4 percent while its component indices offered a mixed data picture: The Jumbo MCAI increased by 4.7 percent and the Conforming MCAI fell by 1.1 percent. Also declining was the Government MCAI, down by 0.6 percent.

"Credit availability increased slightly in September, driven by a five percent increase in the supply of jumbo loans," said Joel Kan, MBA associate vice president of economic and industry forecasting. "The jumbo index, which grew from a combination of lower credit score requirements, non-QM loans, and investor products, is now at a record high since tracking began in 2012. Meanwhile, the trend of tightening credit availability in conforming and government programs continued over the past few months, as both indices decreased."

Mortgage credit availability increased in September, according to new data from the Mortgage Bankers Association

About the author

Phil Hall

Link copied

Published

Oct 08, 2019

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...

People On The Move

Geneva Financial Welcomes New Chief Compliance Officer

As CCO, Jessie Ermel will drive quality control and compliance for the company's mortgage operations.

Geneva Financial today announced that Jessie Ermel has joined its leadership team as Chief Compliance Officer. As CCO, Ermel will drive quality control and compliance for the company's mortgage operations. Ermel joins Geneva Financial with a proven track record of success...