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Posted To: MND NewsWire

A leap in jumbo loan lending drove an increase in mortgage availability in April. A rise in the index indicates that lending criteria are currently loosening. The Conventional MCAI increased 4.3 percent mainly because of a 6.8 percent spike in its Jumbo Index component. The second Conventional component, the Conforming MCAI, was a modest 1.2 percent. The Government MCAI has been unchanged. Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting stated,”Credit distribution increased 2% in April and has been driven by a 7 percent increase in the jumbo index, which reached its highest level since the beginning of the MCAI at 2011. Furthermore, investors continued…(read more)

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