Mortgage credit availability decreased 0.8% in November compared with October, according to the Mortgage Bankers Association's (MBA) Mortgage Credit Availability Index (MCAI).
The index fell to a score of 127.4, down from 128.4 in October.
A decrease in the MCAI score indicates that lending standards tightened during the month, while increases indicate that credit loosened. The index was benchmarked to 100 in March 2012.
The MBA says available credit for conventional mortgages in November decreased 2.0%. For conforming loans, it decreased 1.0%, and for jumbo loans, it decreased 0.8%. Credit for government loans increased 0.1%.
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