Tag Archives: Credit Availability

The MBA's Mortgage Credit Availability Index revealed that August's share of mortgage credit availability was on the upswing after a decrease in July, which resulted in the lowest level of credit availability recorded since 2013.

“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.

“Mortgage credit availability was essentially unchanged in June, remaining close to the lowest level since early 2013, as the industry continues to operate at reduced capacity,” said Joel Kan, Mortgage Bankers Association VP and Deputy Chief Economist.

As affordability struggles worsen for homeowners and buyers nationwide, for-sale inventory is now at its lowest level since April 2022, according to Black Knight's latest Mortgage Monitor Report for April.

Despite the Fed continuing to raise interest rates, overall mortgage refinance application volume rose 10% week-over-week, hitting levels last seen in September of 2022.

“Even with high mortgage rates and reduced credit availability, the lack of for-sale inventory continues to be the biggest hurdle to more home purchase growth this year,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

Credit availability fell to its lowest level since March 2013 in September, as reports show credit tightening for the seventh consecutive month.

“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.

Mortgage credit availability, a key component of the mortgage application process, decreased in March, according to the Mortgage Credit Availability Index (MCAI), a monthly report from the Mortgage Bankers ...

A report gives insights into some important developments that are likely to impact borrowers and homebuyers in 2019 and beyond.