Welcome!




Expand Your Education with These Courses from
Customer Relationship Building: Skills for Sales Success: Part Seven.
Expand your education through NAR's REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
ACE: Purchase Reverse Mortgage Course.
Bundle 1: CIPS Core Courses (Non-US Version).
Bundle 2: CIPS Elective Courses (US Version).

Mortgage Credit Availability Increases Slightly in March

Have a comment on this article? Share on Facebook!

Mortgage credit availability increased slightly in March according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from the AllRegs® Market Clarity® product.

“Consistent with past months, many lenders and investors are providing borrowers seeking higher loan amounts with a broader range of financing options by introducing new jumbo loan programs. Over the month, some lenders made a complete exit from wholesale lending operations, while other lenders moved to enter that space or expanded operations,” says Mike Fratantoni, MBA’s Chief Economist.

The trend of increased availability for jumbo loan programs is consistent with behavior MBA has been monitoring in its Weekly Applications Survey which shows growth in purchase volume for applications with higher loan amounts and contraction in home purchase application volume for lower-balance loans. Similar trends have been noted in the National Association of REALTORS’ existing home sales data as well. Lenders are likely moving to create a broader range of jumbo products in order to capture the increasing demand for such financing in the market.

The MCAI increased 0.44 percent from 113.5 in February to 114.0 in March. 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. If the MCAI had been tracked in 2007, it would have been at a level of roughly 800, indicating the credit was much more available at that time.

For more information, visit www.mba.org/MortgageCredit.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>