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Lenders Eased Mortgage Standards in June

Mortgage News > Lenders Eased Mortgage Standards in June
Date: 07/12/2018    Lenders Eased Mortgage Standards in June

Mortgage lenders loosened their credit standards slightly in June, according to the Mortgage Bankers Association (MBA), a result of competition among lenders. The MBA’s Mortgage Credit Availability Index inched up 0.2% to 181.0 last month. The index was benchmarked to 100 in March 2012. Increases in the index indicate lenders are making mortgages easier to obtain, while a decrease shows that credit standards are being tightened. The MBA said the looser standards were a response among lenders to “fierce competition” for prime jumbo loan borrowers. 

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