Residential lenders relaxed credit requirements last month to the most flexible level since January. Driving the improvement were ambitious lenders fighting for jumbo business.
As of June 2018, the Mortgage Credit Availability Index was 181.0 — the highest it has been since January 2018 when it came in at 182.9. The index was calibrated at 100 as of March 2012.
An 0.2 escalation occurred compared to the prior month for the index, a standardized quantitative mortgage credit index. The increase is an indication credit conditions have eased.
Source: Mortgage Daily