The Mortgage Bankers Association’s mortgage credit availability index decreased to 181.3 in July from 183.7 in June. The index, which was created to measure the level of credit risk in the mortgage market, has remained relatively low since the Great Recession.
– Mortgage credit availability dropped in July to its lowest level since 2013, as receding origination volumes led to lower profitability for many lenders.
– The Mortgage Bankers Association’s mortgage credit availability index decreased to 181.3 in July from 183.7 in June. The index, which measures the level of credit risk in the mortgage market, has remained relatively low since the Great Recession.
– This decrease in credit availability is a result of lenders’ increased focus on profitability, as origination volumes have declined.
– While this may make it more difficult for some borrowers to obtain a mortgage, it is a sign that the industry is returning to a more sustainable model.
You can read this full article at: https://www.housingwire.com/articles/mortgage-credit-availability-hits-a-10-year-low/(subscription required)
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