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Jumbo Guidelines Loosening Quicker Than The Rest
Tuesday, July 10, 2018
The Mortgage Bankers Association attributed an
increase in its Mortgage Credit Availability Index (MCAI) last month to increased
competition among lenders for the jumbo prime mortgage market. MBA said its index increased 0.2 percent in
June to 181.0. An increase in the Index indicates that credit standards are
Due to competition which MBA's Chief Economist and Senior
Vice President Mike Fratantoni categorized as "fierce," the Jumbo MCAI rose 9.3
percent from May to June and is now over 300.
The Index was benchmarked to 100 in March 2012. The increase in that index component was
offset by a decline in the Government MCAI which was down 3.9 percent. Fratantoni attributed recent tightening in government
lending, which put that index, at its lowest point since the summer of 2016, to ...
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