Tag Archives: Housing Credit Availability Index

“Credit availability fell last month to the lowest level since May 2013, as lenders streamlined their loan offerings in this declining volume environment,” said Joel Kan, MBA’s Associate VP of Economic and Industry Forecasting.

Getting mortgage became easier, home prices increased, and first-time homebuyers were more likely to take a smaller loan according to a report that studied the indicators of the housing market that remain strong.

After years of post-crisis credit tightening, the availability of mortgage credit has slowly edged up from Q3 2013 to Q1 2015. The Urban Institute’s Housing Finance Policy Center reported that 4.6 percent of purchase loans that are likely to default increased to 5.7 percent, according to the Housing Credit Availability Index.