For the second month in a row, home lending institutions have made it harder to get a loan. Constriction was driven by government mortgage programs.
As of May 2017, the Mortgage Credit Availability Index — a standardized quantitative index focused on mortgage credit — was 181.0.
The index retreated from the previous month, when it landed at 183.0. Turns out that the index has now moved lower for two consecutive months.
Source: Mortgage Daily