Mortgage And Real Estate News

Wednesday, July 10, 2013

Mortgage lending loosens in June | HousingWire

Mortgage lending eased a bit in June, with credit becoming more widely available when compared to recent years, the Mortgage Bankers Association said.

An uptick in jumbo, investor and higher LTV loans eased some of the slack.

According to the MBA's Mortgage Credit Availability Index report, which analyzes data from AllRegs Market Clarity product, the MCAI ticked up to an index score of 109.8 last month, growing almost 1% from 108.9 in May.

The index evaluates credit scores, loan types and loan-to-value ratios to compute the score.

The May figure is well above the benchmark score of 100. Higher index values suggest credit is loosening and lending is less strict, while lower values are indicative of tightening standards.

Reuters: Business News

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