Credit conditions in home lending relaxed last month to the most accommodative levels since the financial crisis. The loosening, led by jumbo, came just one month after contracting to the tightest level in five months.
A standardized quantitative index focused on mortgage credit, the Mortgage Credit Availability Index, landed at 182.9 as of the first month of this year.
The index was at its highest level since at least 2008 based on historical data — an indication that credit conditions have become more flexible than at any time since that period.
Source: Mortgage Daily