Having dropped to a 10-year low in June, mortgage credit availability, as indexed by the Mortgage Bankers Association, inched down another 0.3 percent in July to its lowest level since January of 2013, with a 0.2 percent rise in the index for conforming loan availability offset by a 0.8 percent drop in the index for Jumbo loans, the availability of which has dropped by around 25 percent over the past year and is 50 percent lower than prior to the pandemic at the end of 2019 with jumbo lenders furthering reduce their loan programs and ongoing “liquidity concerns.”