A standardized quantitative index that reflects credit conditions in home lending indicates that lenders loosened their purse strings last month.

The index, the Mortgage Credit Availability Index — which was benchmarked at 100 as of March 2012 — came in at 178.5 in June 2017.

That turned out to be a minimal increase of 0.1 percent when compared to the downwardly revised level for the preceding month.

Source: Mortgage Daily