The MBA’s Mortgage Credit Availability Index, which measures the availability of mortgages, rose 2.1 percent in November—an increase that signifies loosening credit standards. This is the third straight month of increases in the index—and according to MBA’s associate vice president of economic and industry forecasting, Joel Kan, that trend is expected to continue into the new year.
“Expanding credit availability will continue to support active levels in mortgage lending, even as refinance activity starts to level off,” Kan said in a recent article on The Mortgage Reports.
What does this mean for you? If you’ve been dreaming about buying a home but have a less-than-perfect credit history, these loosening credit standards could make it easier to qualify for a mortgage—and make your dreams of homeownership a reality.
What Is Your Home Worth?
It might be worth more than you think! Find out now. It takes less than a minute.
Please fill in your address.
Just To Make Sure...
Is this your correct address?
Zip / Postal Code
Thinking Of Selling?
Please select from one of the choices.
What's your name?
Please fill in your name.
Nice Meeting You!
Where would you like your result sent?
Prefer That I Call You?
I can give you more context this way. (It's up to you.)
You're All Set!
I'll reach back out to you ASAP with your home's estimated value.