Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
722,032+456
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
7.00%0.01
Mortgage

Lending standards tightened in November

Loan programs restrict LTV, FICO requirements

Mortgage credit availability slightly dipped in November as lending standards tightened a bit, the Mortgage Bankers Association said in its updated Mortgage Credit Availability Index report.

The MCAI edged down 1.2% from an index score of 111.5 in October to 110.2 in November.

The index was benchmarked at 100 in March 2012, and if it was tracked in 2007, it would have been hitting roughly around 800.

"A significant number of loan programs allowing for more than 95 LTV and low-to-mid range minimum FICOs were either discontinued in November, or transitioned into programs with lower LTV maximums and/or higher minimum credit scores," the report noted.

In addition, investors continued to pull-back from programs with greater than 30-year terms and interest-only programs to prepare for new regulations coming into effect in January.

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please