Mortgage Bankers Association (MBA) reports 17% decrease in applications for week ending Oct. 11
Tagged: Mortgage Credit Availability
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The Mortgage Credit Availability Index sees modest increase, reaching 92.9; conventional loans expand slightly, while government programs remain stable.
The numbers reflect ongoing industry consolidation and reduced loan programs.
MCAI dropped 1.7% in November.
MBA report reveals a slight increase in loan offerings to counter rising mortgage rates, while industry braces for decline in origination volume.
Jumbo loans drive the uptick while conforming index hits its lowest since 2011; industry trends towards streamlined offerings.
There was a notable decrease in the jumbo category.