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Mortgage Credit Availability Inches Up

WRE News June 10, 2024

Buyer

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

The trade group’s Mortgage Credit Availability Index (MCAI) inched up by 0.1% to 94.1 in May; the index was benchmarked to 100 in March 2012. The Conventional MCAI increased 0.3% percent while the Government MCAI dipped by 0.1%t. Of the component indices of the Conventional MCAI, the Jumbo MCAI saw a 0.1% uptick while the Conforming MCAI rose by 0.5%.

“Mortgage credit availability rose gradually in May and has increased for five consecutive months,” said Joel Kan, MBA’s vice president and deputy chief economist. “The overall supply of mortgage credit is still close to 2012 lows, but is slowly increasing. The industry has reduced capacity over the past two years in response to extremely low unit volumes. Conventional, conforming, and jumbo credit availability have expanded slightly in recent months as lenders broaden loan offerings to reach more potential homebuyers in a tight purchase market.”

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Mortgage Credit Availability Inches Up

Recent Blog Posts

West Palo Alto Neighborhoods

6 Easy Changes You Can Make To Keep Your Home Warm on a Budget

The Best Time Of Day To Drink Coffee For Maximum Benefits Isn’t First Thing When You Wake Up

How Much Home Equity Have You Gained? The Answer Might Surprise You

Comedian Heather McMahan Is A Crazy Dog Mom, Just Like The Rest Of Us

New Study Details Artificial Intelligence Practices in the Real Estate Sector

We are Your GPS to Success Let’s Get Started

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