Although prospective borrowers seeking conventional mortgages had an easier time qualifying for a loan last month, government conditions tightened. Jumbo activity had the biggest bounce.

A standardized quantitative index that focuses just on mortgage credit, the Mortgage Credit Availability Index, was calculated at 177.9 for April.

That turned out to be the same level for the MCAI as the previous month — when the index declined to the lowest level since February 2017.

Source: Mortgage Daily