For the first time in seven months, credit conditions in single-family lending have become more restrictive, though the tightening was minimal.

The Mortgage Credit Availability Index, a standardized quantitative index that is focused only on mortgage credit, was 183.0 in April 2017.

A slight dip was recorded versus 183.4 the preceding month. It was the first time the index moved lower since August 2016, when it was 164.7.

Source: Mortgage Daily