“Credit availability declined in December to the lowest level since 2012, as ongoing industry consolidation is resulting in more loan programs being removed from the marketplace,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
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Mortgage Credit Availability on the Rise in October
Driven by increased activity in the jumbo mortgage market, the MBA reported mortgage credit availability on the rise to begin Q4, as lenders have begun to offer more ARM products to offset mortgage rates that reached nearly 8% in the second half of October.
Read More »Mortgage Credit Availability Falls to Lowest Point in Over a Decade
The MBA reports that mortgage credit availability fell for the third straight month in May, dropping to levels last recorded in January 2013.
Read More »Supply of Government Mortgage Credit Slips for the Third Time in Four Months
“With the spring buying season underway, lenders are grappling with the threat of a recession and tighter overall financial conditions following the recent bank failures,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
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