General World News

Looser mortgage credit may give first-time buyers a chance

Mortgage credit showed signs of loosening up in March, and with it, more availability for lower credit scores and high LTV products to enter the housing market, the Mortgage Bankers Association said in a report on Thursday.

The group’s Mortgage Credit Availability Index rose .6% to 125.4 last month, a positive indicator after pandemic-driven factors plunged the index from record highs previously seen in late 2019.

Measuring mortgage credit availability by loan type, the Conforming MCAI that tracks loans backed by Fannie Mae and Freddie Mac rose .02%. The Conventional MCAI that measures loans not backed by the government details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com