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Credit Availability Rises for Jumbo, Low Credit Score Borrowers

The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose slightly in February. The Index, which measures any tightening or loosening of mortgage underwriting overall and by loan type, rose 0.6 percent to 180.1, indicating a relative easing of credit.  The index was benchmarked to 100 in March 2012. The Conventional MCAI increased...

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Mortgage Rates Up 92 BPS From Year Ago

Over the past year, weekly fixed interest rates on single-family loans have soared 92 basis points. But little change was reported from last week, and more of the same is expected.On conventional loans utilized to finance a home purchase with amounts up to the conforming mortgage limit of $453,100, thirty-year... 

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