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The availability of mortgage credit declined slightly last month. The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) dipped 0.2 percent to 181.9 in January. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has four components, the Conventional MCAI and its two sub-components were responsible for the January decline. The Conventional MCAI decreased 0.5 percent as its Jumbo components fell 0.3 percent and the Conforming MCAI moved 0.9 percent lower. These losses were partially compensated for by the Government MCAI which gained 0.4 percent. "Mortgage credit availability was mostly unchanged to start 2020, decreasing 0.2 percent in January," said Joel Kan, MBA's Associate
Housing News
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The availability of mortgage credit declined slightly last month. The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) dipped 0.2 percent to 181.9 in January. A decline in the MCAI indicates that lending standards are t... (read more)
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Mortgage Rate Watch
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Mortgage rates managed to hold steady , for the most part, today. Some lenders were offering slightly better or worse terms compared to yesterday, but none of the changes were very big. This is a welcome development considering the past 2 days saw a ... (read more)
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Rob Chrisman
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For years there has been name confusion between Fannie Mae and Fannie May . Name overlap isn’t limited to those two; MERS, familiar to mortgage bankers everywhere, is not the same as MERS (Middle East Respiratory Syndrome). And trying to find g... (read more)
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Housing News
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The Urban Institute (UI) says the five government mortgage lenders and their various ways of accounting for income-driven repayment (IDR) plans are inhibiting the ability of many potential homebuyers to buy a home. IDR plans are used by many student ... (read more)
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Housing News
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Mortgage application volume continues to benefit from lower interest rates. The Mortgage Bankers Association (MBA) said today that its Market Composite Index, a measure of that volume, reached its highest level since May 2013 last week. The 5.0 perce... (read more)
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MBS Commentary
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The bond market took a break from the past 3 days of weakness today. There weren't any significant economic reports or news events (not as far as the market was concerned anyway), including any material changes to the coronavirus outlook.
Thi... (read more)
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