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Jumbo Loan Guidelines Tightened in August

The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) moved lower in August due to a decline in its jumbo loan component index.  The composite MCAI decreased 0.3 percent to 183.5.  A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.

"Overall credit availability saw a slight decrease in August, for the first time in four months, as the jumbo index retreated from its record high in July. Strong month-over-month increases in the jumbo index reversed because of a reduction in the...

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