Mortgage credit tightened in June, according to MBA

Mortgage lenders tightened their offerings in June in what could be a sign of greater difficulty for borrowers looking to get into a new home. 

New data from the Mortgage Bankers Association showed less credit on offer in June, the first decrease since late 2024. The trade group’s Mortgage Credit Availability Index, which tracks loan products in the market, fell 1.3% to 103.7 last month. The main index was dragged down primarily by declines in the government and conforming component indices. Despite the drop, the index is still up more than 9% year-over-year.

“With the job market softening, and increasing mortgage delinquency rates, some lenders are tightening up their credit offerings,” said Joel Kan, MBA’s vice president and deputy chief economist.

“Credit availability decreased in…