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.
Credit remains near its tightest level in the past decade.
Mortgage Credit Availability Drops Again, Leaving Borrowers High and Dry
Decline reflects the tightening in broader credit conditions, MBA said.
Credit remains at its tightest level in a decade.
This month's credit availability decreased to its lowest level since January 2013.
MBA says credit tightening due to mortgage rates remaining high YOY.
Consumers also more optimistic that household income will grow.