After a Tight December, Credit Standards Loosen

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Posted To: MND NewsWire

Mortgage credit availability increased significantly in January. The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) rose 2.1 percent in January, more than offsetting December’s 1.8 percent loss . After the increase the MCAI was at 182.9. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. Lynn Fisher, MBA’s Vice President of Research and Economics said, “Jumbo credit programs rebounded most strongly and reached a new series high, driven by an increase in the number of programs with reduced documentation requirements. In government lending programs, credit availability remains somewhat lower than the rest of 2017 .” The MCAI has four components, each identified with a loan product…(read more)

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