Conventional, Jumbo Loan Availability Accelerating

Hot news from AZ Home Help:

Posted To: MND NewsWire

Credit availability increased in July, resuming an almost continuous rise that started last fall. The Mortgage Bankers Association said its Mortgage Credit Access Index (MCAI) rose 3.5 points or 2.9 percent from June to 125.5. The index had risen every month since last October but suffered a slight setback in June, declining by 0.6 points. The Index is nearly 10 points higher than at the beginning of this year. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of a loosening of credit. The index was benchmarked to 100 in March 2012. All four of the MCAI's component indices increased in July as well with the Conventional MCAI showing the greatest loosening, up 5.2 percent. The jumbo mortgage index also jumped up sharply, gaining...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/08062015_mba_mcai.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com