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Borrowers had a little easier time getting financing in March, especially those searching to get Jumbo products. The Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI) rose 1.1 percent from February into a reading of 182.1. A decrease in the index suggests that lending standards are decreasing while a rise means that a loosening of credit. The Total MCAI has part indices. The Conventional MCAI increased 3.6 percent while the Government version was down 1.2 percent. The two sub-indices inside the MCAI both moved higher. The Jumbo index increased 5.2 percent and the Conforming MCAI was up 1.4 percent. Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting explained,”Credit accessibility increased in…(read more)

Posted To: MND NewsWire