Mortgage Credit Availability Dips, Government Loans Fall Most

June 9, 2017 Aly J. Yale

The availability of mortgage credit has dropped more than a full percent over the last month, indicating lenders are continuing to tighten their credit standards. Overall mortgage credit availability fell 1.1 percent in May and 0.2 percent in April. Broken down by loan type, government credit availability saw the biggest drop, falling 1.9 percent over the month. Conforming credit dipped 0.3 percent, while conventional and jumbo credit availability headed the other direction, rising 0.2 percent and 0.8 percent, respectively. Jumbo loan credit availability, which has risen 13 out of the last 15 months, has helped to offset falling credit availability in other sectors.

The post Mortgage Credit Availability Dips, Government Loans Fall Most appeared first on theMReport.com.

Previous Article
The 20 Percent Downpayment: A Thing of the Past?
The 20 Percent Downpayment: A Thing of the Past?

Recent data hints that the 20 percent downpayment may not be entirely necessary anymore. First-time homebuy...

Next Article
LoanCare Announces Adam Saab as COO
LoanCare Announces Adam Saab as COO

LoanCare announced that Adam Saab has assumed the role of EVP and COO. Saab had previously held the positio...