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The Mortgage Credit Availability Index (MCAI), a measure developed by the Mortgage Bankers Association (MBA), was unchanged in April at 177.9. The Index indicates the availability of credit based on whether lending standards are tightening, which would result in a lower score, or loosening, an increase in the index. Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting, said "Credit availability in April was unchanged overall, but the components told different stories. Government credit tightened slightly as investors continued to pull back on streamline refinance products, while conventional credit availability increased, driven mainly by an expansion in jumbo credit. The jumbo market remains competitive for lenders according to data from our Weekly Application Survey
Housing News
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The Mortgage Credit Availability Index (MCAI), a measure developed by the Mortgage Bankers Association (MBA), was unchanged in April at 177.9. The Index indicates the availability of credit based on whether lending standards are tightening, which wou... (read more)
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Housing News
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Home owners who have needed help from someone in the trades in the recent past will probably agree with a report from the National Association of Home Builders (NAHB) noting the serious shortages of labor faced by remodelers . Paul Emrath, writing in... (read more)
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Rob Chrisman
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Air travel is an interesting thing, and very safe by most metrics. Did you know that there are between 440,000 and 660,000 people in the air over the U.S. at any given time? (This morning one of those will be me as it is off to Dallas for the TXAMP l... (read more)
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MBS Commentary
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Yesterday's recap labeled the trading day as an official 3rd day of the weekend due to an absence of volume or volatility. The underlying culprit (apart from Mondays generally being slower) was a bank holiday in the UK that contributed to a ver... (read more)
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Mortgage Rate Watch
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Mortgage rates have been exceptionally sideways for nearly 2 weeks now--this after hitting the highest levels in more than 4 years on April 25th. As always, the run up to long-term highs happened in concert with weakness in the broader bond market. R... (read more)
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MBS Commentary
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This happens from time to time on Mondays. Either due to a holiday overseas or some other distraction, a data-free Monday ends up being a complete dud in terms of volume and volatility in the US trading session. Such was the case today, w... (read more)
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consumerfinancemonitor.com
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