For the third month in a row, home lenders have been more aggressive about which loan applicants they will approve. Conforming credit eased the most.
That is according to the Mortgage Credit Availability Index, which was 180.2 in August. The index is a standardized quantitative index focused on mortgage credit.
Compared to the previous month, the index ascended 0.7 percent. A month-over-month increase is an indication that lending standards are loosening.
Source: Mortgage Daily