In the ever-changing landscape of the U.S. housing market, a recent report brings some potential good news for prospective homeowners and refinancers. Mortgage credit availability saw a slight uptick in September 2023. This increase, indicating a modest loosening in lending standards, comes amidst adjustments by lenders to accommodate borrowers contending with higher mortgage rates.
Enjoy this article from The World Property Journal to see what these trends are and what they could mean for your home financing plans. As always, please let me know if you have any questions or for help with any of your real estate needs.
Tim Houterloot - Broker/Realtor
317-997-0165 - Cell
indyhomepro@outlook.com
Source: The World Property Journal | Repost Houterloot 10/12/2023 -
Based on a new report from the Mortgage Bankers Association and data from ICE Mortgage Technology, U.S. mortgage credit availability increased in September 2023.
The MCAI rose by 0.6 percent to 97.2 in September. 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 0.6 percent, while the Government MCAI increased by 0.6 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 0.8 percent, and the Conforming MCAI rose by 0.2 percent.
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