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Conventional, Jumbo Loan Availability Accelerating

Thursday, August 6, 2015

Credit availability increased in July, resuming an almost continuous rise that started last fall.  The Mortgage Bankers Association said its Mortgage Credit Access Index (MCAI) rose 3.5 points or 2.9 percent from June to 125.5.  The index had risen every month since last October but suffered a slight setback in June, declining by 0.6 points. The Index is nearly 10 points higher than at the beginning of this year.

A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of a loosening of credit. The index was benchmarked to 100 in March 2012.

 

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