The Mortgage Credit Availability Index (MCAI) rose 2.1% in May to 105.1, indicating a loosening of credit supply. Government loan supply increased by 2.9% to its highest level since November 2022, driven by more FHA and VA adjustable-rate mortgages.
The pandemic rush to Florida is dying down, and with mortgage rates being so high and staying high, it makes it really unaffordable for people paying for those high prices.