Leave a Message

By providing Jackie Schoelerman your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.

Thank you for your message. We will be in touch with you shortly.

Mortgage Credit Availability Up Slightly In September

WRE News October 13, 2023

Buyer

Mortgage Credit Availability Up Slightly In September

Mortgage credit availability increased in September, according to the Mortgage Bankers Association (MBA).

The MBA’s Mortgage Credit Availability Index (MCAI) increased by 0.6% to 97.2 last month; the index was benchmarked to 100 in March 2012. Both the Conventional MCAI and the Government MCAI increased by 0.6%. Of the component indices of the Conventional MCAI, the Jumbo MCAI was up by 0.8%, and the Conforming MCAI saw a 0.2% uptick.

“Credit availability increased slightly in September, as lenders increased their loan offerings marginally to meet the changing needs of borrowers who are facing higher mortgage rates,” said Joel Kan, MBA’s vice president and deputy chief economist. “There were more loan programs for ARM loans for borrowers seeking lower initial monthly payments and also some increases in non-QM product offerings. Credit availability increased across all loan categories, with the jumbo index increasing for the second straight month, driven by the expansion of ARM and non-QM offerings. Industry capacity has declined significantly since the peak originations months in 2021, and MBA expects to see further declines in originations volume, given the high interest rate environment and typical seasonal slowdown.”

Recent Blog Posts

Stay up to date on the latest real estate trends.

Mortgage Rates Stay Flat Ahead of Holiday Weekend

December 1, 2024

Mortgage rates remained flat ahead of the Thanksgiving holiday weekend, according to the latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC).

Make Your House the Top Thing on Every Buyer’s Wish List This Season

December 1, 2024

With the holidays right around the corner, homeowners planning to move have a decision to make: sell now or wait?

Bubbling Paint Will Ruin Your Walls—Here's How Experts Prevent It

December 1, 2024

Painting is one of those home improvement tasks that people either love or despise.

Want To Boost Employee Morale And Productivity? Ramp Up Volunteering

November 30, 2024

Though there was already plenty for Allison Hope Kahn to like about working at Mastercard, it was the afternoon she and her colleagues spent volunteering at a nature p… Read more

Whale Watching Season In Paradise In Baja California Sur

November 30, 2024

Located on the beautiful coastline of the Gulf of California, Loreto is a year-round playground for fishing, surfing and boating.

St. Claire Gardens Neighborhood of Palo Alto

November 30, 2024

We are Your GPS to Success Let’s Get Started

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

Schedule Appointment

Follow Us On Instagram