WRE News August 14, 2024
Buyer
Mortgage credit availability was on the rise last month, according to data from the Mortgage Bankers Association (MBA).
The trade group’s Mortgage Credit Availability Index (MCAI) was up by 3.3% to 98.1 in July; the index was benchmarked to 100 in March 2012. The Conventional MCAI increased 6.4% while the Government MCAI dipped by 0.1%. Of the component indices of the Conventional MCAI, the Jumbo MCAI soared by 9.3% and the Conforming MCAI inched up by 0.7%.
“Overall credit availability grew to its highest level since October 2023, driven by increased conventional loan offerings such as ARMs and cash-out refinance loans,” said Joel Kan, MBA’s vice president and deputy chief economist. “We also saw credit supply expand for jumbo loans, particularly in the non-QM space. Industry capacity has been low for some time, but we have now seen more than six months of credit expansion, which should be supportive for homebuyers and refinance borrowers, as rates have declined in recent weeks.”
Stay up to date on the latest real estate trends.
January 15, 2025
January 14, 2025
We’re officially in the winter stretch, and in many parts of the country, temperatures have plunged—leaving many homeowners struggling with how to beat the chill.
January 14, 2025
A cup of coffee is the quintessential staple of a morning routine—at least in the U.S.
January 14, 2025
Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner?
January 13, 2025
As harrowing and out-of-touch as show business can be, celebrities’ most-relatable sides are exposed in the bonds they share with their pets.
January 13, 2025
Ferguson Partners, the Chicago-based talent management and strategic advisory firm for the real estate sector, announced the results of its first Artificial Intelligen… Read more
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today