Mortgage Credit Availability Increased in July

Mortgage credit availability increased in July according to the Mortgage Credit Availability Index, a Mortgage Bankers Association report that analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool.

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“Credit availability rose slightly in July–the first increase in eight months–as the supply of certain types of adjustable-rate mortgages and jumbo loans increased. The improvement was more of a leveling off from the precipitous drop earlier this spring.”–MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

Mortgage Applications Decrease in MBA Weekly Survey

Mortgage applications decreased 5.1 percent from one week earlier, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending July 31.

MBA Chart of the Week: Contribution to GDP Growth

This week’s MBA Chart of the Week drills down on the U.S. Bureau of Economic Analysis’ advance estimate of real gross domestic product for the second quarter, which was released July 30.

2nd Quarter GDP Takes One to the Chin

We were warned that second quarter gross domestic product data was going to be bad. Even so, the numbers that came out yesterday were off the charts–literally.

Pending Home Sales Jump Nearly 17%

Pending home sales jumped for the second straight month in June, the National Association of Realtors reported yesterday.

MBA Chart of the Week: Ratio of Unemployed Workers Per Job Opening

This week’s MBA Chart of the Week uses data from the U.S. Bureau of Labor Statistics to look at the ratio of the number of unemployed workers to job openings to highlight how the current recession is different than the recession in 2007-2009.

MBA Chart of the Week: Ratio of Unemployed Workers Per Job Opening

This week’s MBA Chart of the Week uses data from the U.S. Bureau of Labor Statistics to look at the ratio of the number of unemployed workers to job openings to highlight how the current recession is different than the recession in 2007-2009.