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availability decreased slightly in August, the Mortgage Bankers Association
declined 0.4 percent to a level of 164.7, an indicator that credit tightened
over the July level. Of the four components, loans with conforming loan balances saw
the greatest tightening (down 0.9 percent),
followed by government loans (down 0.5 percent) and conventional loans
(down 0.2 percent). Credit loosened for jumbo loans (up 0.5 percent).
The trade group noted that one mid-sized investor closed its correspondent channel, causing the indices to decline.
MBA’s index is
based on Ellie Mae data, and was benchmarked at 100 in March 2012, when credit
was especially tight.
Questions? Contact Victor Whitman at (425) 984-6017 or
PreviousHome equity lines gaining popularity
NextMortgage rates fall again
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