After ascending to a post-crisis high, mortgage credit conditions loosened for the second consecutive month. The improvement came as refinances are slowing.
As of October 2016, the Mortgage Credit Availability Index, which is a standardized quantitative index that is focused on mortgage credit, landed at 171.3.
The last time the index was this high was prior to June 2008 based on semi-annual historical data. Still, the index sits well below roughly 869 as of June 2006.
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From:: Financing