Mortgage credit availability increased for the third consecutive month in September, but is still 30% below the pre-pandemic level, according to a report released Tuesday by the Mortgage Bankers Association (MBA). Much of the growth in credit availability has come from loans that cater to self-employed borrowers, who were left in the cold by most lenders during the pandemic.
The MBA Mortgage Credit Availability Index overall rose by 1.5% to 125.6 in September, the highest level since May. The index benchmarks to 100 in March 2012; a higher number portends more mortgage details ⇒
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