WRE News April 9, 2024
Buyer
Mortgage credit availability increased last month, according to new data from the Mortgage Bankers Association (MBA).
The trade group’s Mortgage Credit Availability Index (MCAI) was up by 1.1% in March to 93.9; the index was benchmarked to 100 in March 2012. The Conventional MCAI increased 2.1% while the Government MCAI dipped by 0.1%. Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 2.6% and the Conforming MCAI rose by 1.2%.
“Credit availability increased in March, driven by growth in conventional credit. There were increased offerings of cash-out refinance loan programs across fixed rate and ARM loans, as well as for all occupancy types,” Joel Kan, MBA’s vice president and deputy chief economist. “Although credit supply increased for the third consecutive month, it remains low at nearly 7% below a year ago and still close to 2012 lows. The jumbo index grew 2.6% last month and was the only component seeing credit supply higher than a year ago. Growth in jumbo credit availability was driven by both non-QM and super conforming loan programs.”
Stay up to date on the latest real estate trends.
January 20, 2025
The Chicago-area residence that gained pop culture immortality as the residence of the “Home Alone” family officially has new owners.
January 20, 2025
You have brains in your head.
January 20, 2025
Wondering what to expect when you buy or sell a home this year?
January 20, 2025
The Calif. Dept. of Insurance announced it is issuing a mandatory one-year moratorium on insurance non-renewals and cancellations for homeowners impacted by the Southe… Read more
January 20, 2025
The IRS has announced relief available to victims of California wildfires and straight-line winds that began on January 7, 2025.
January 19, 2025
Canada recorded 245,120 housing starts in 2024, up 2% year-over-year, according to data from the Canada Mortgage and Housing Corporation (CMHC).
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