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Access to mortgage credit increased again in January. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.0 percent to 124.6. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The two components of the Conventional MCAI posted significant increases. The Conforming MCAI jumped 7.7 percent and the Jumbo component was up 2.2 percent, pushing the parent index up 4.8 percent compared to December. This was slightly offset by an 0.1 percent decline in the Government MCAI. "The growth in credit availability in January coincides with a housing market that is poised for a strong start to the year . Improvements were driven by the conventional segment of the mortgage market
Housing News
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Access to mortgage credit increased again in January. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.0 percent to 124.6. A decline in the MCAI indicates that lending standards are tightening, while in... (read more)
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Housing News
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Mortgage delinquencies are continuing a slow retreat into pre-pandemic territory. CoreLogic's Loan Performance Report for November put the percentage of loans that were 30 or more days past due, including those in foreclosure at 5.9 percent. While th... (read more)
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Rob Chrisman
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Yesterday I flubbed up by discussing the Administration’s proposal to eliminate credit unions and have the CFPB control the credit process . The article discussed eliminating credit bureaus , not unions, and fortunately the link was there. Cred... (read more)
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MBS Commentary
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Locking vs Floating After Underwhelming "Rally Day."
The recent losing streak in the bond market made it increasingly likely that we'd see a win this week. Ideally, it would have aligned with a strong r... (read more)
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Housing News
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Consumers expressed more positive sentiments toward the housing market as 2021 arrived, sending Fannie Mae's Home Purchase Sentiment Index (HPSI) a bit higher. The most significant gains came from increased optimism about the climate for selling a ho... (read more)
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Mortgage Rate Watch
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Mortgage Rates were steady to slightly lower yesterday even though prevailing trends in the bond market suggested caution. Today's trading is a different story. Granted, there haven't been any huge, dramatic moves, but today's bond market weakness ad... (read more)
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