Residential
Real Estate News
Mortgage Credit Availability in U.S. Increased in May

Mortgage Credit Availability in U.S. Increased in May


Based on new data from the Mortgage Bankers Association, U.S. mortgage credit availability increased in May 2019 according to the Mortgage Credit Availability Index (MCAI).

The MCAI rose 1.9 percent to 189.5 in May. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The index was benchmarked to 100 in March 2012. The Conventional MCAI increased 4.4 percent, while the Government MCAI decreased slightly (0.6 percent). Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 6.8 percent, and the Conforming MCAI rose 0.9 percent.

"Credit supply increased 2 percent in May, driven by the fifth straight gain in the jumbo index, which was up 7 percent and surpassed last month as the new all-time survey high," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "The conventional index continues to grow, while the government index has generally been lower this year. Government credit supply continues to decline since peaking in 2017, as there are fewer streamlined refinance programs being offered."

unnamed (25).png

Sponsored by

Comment with Facebook


Copyright 2010 - 2019 WORLD PROPERTY JOURNAL, INC. All Rights Reserved.

Join 34,000+ real estate professionals worldwide who receive our free weekly newsletter

GO
Advertisement
News Search
Go

Listing of The Day

Luxury Property Spotlight

Reader Poll

Advertisement
Featured International Listings
×
WORLD PROPERTY JOURNAL
 
Free News Alerts
 

Sign up now to receive the latest local & global real estate news in your inbox.

GO