Posted To: MND NewsWire

Mortgage credit access rose slightly in July but remains in the nether regions to which it dropped last fall in the wake of the pandemic. The Mortgage Bankers Association (MBA) says its Mortgage Credit Availability Index (MCAI) gained 0.3 percent to 119.1 in July. The index was at 181.9 in January of 2020 and had fallen to 118.6 by the following September. An increase in the MCAI indicates that lending standards are loosening while a lower number indicates tightening. The index was benchmarked at 100 in March 2012. The MCAI has four components. In September, the Conventional MCAI increased 0.8 percent, while the Government MCAI was unchanged. Of the component indices of the Conventional MCAI, the Jumbo MCAI rose 3.8 percent, and the Conforming MCAI fell by 3.2 percent. “Credit availability…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Published On: August 12, 2021 / Categories: Mortgage News /

Subscribe To Receive The Latest News

Curabitur ac leo nunc. Vestibulum et mauris vel ante finibus maximus.

Thank you for your message. It has been sent.
There was an error trying to send your message. Please try again later.

Add notice about your Privacy Policy here.