Home lenders have made it easier to qualify for a mortgage for four consecutive months. The latest gain was enough to put credit conditions at their loosest level in nearly a decade.
During the month of August, the Mortgage Credit Availability Index was computed to be 181.4. The index provides perspective on single-family lending conditions.
Based on historical data provided to Mortgage Daily by the Mortgage Bankers Association, Tuesday’s report represents the highest level for the index since at least 2008.
Source: Mortgage Daily