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Mortgage Credit Availability Increases

Mortgage Credit Availability Increases

| Aug 06, 2014 | Housing Market

According to the Mortgage Credit Availability Index from the Mortgage Bankers Association, Mortgage credit availability increased last month by .5% averaging 116.4. The jump is good news as it means lending standards are becoming more relaxed. Experts have implied that the increase is due to the growing number of jumbo adjustable rate mortgages. Additionally, many programs have loosened their lending requirements helping scores of new borrowers obtain mortgages. More here

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