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Easing Credit Access Tilted by Jumbo Products

Thursday, September 3, 2015

Mortgage credit access continued to improve again in August the Mortgage Bankers Association (MBA) said on Thursday.  The trade group's Mortgage Credit Availability Index (MCAI) gained 0.5 percent compared to July and is up more than four points since June.  MBA said August was the eighth month out of the last nine that the index has posted an increase. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. Mike Fratantoni, MBA's chief economist said the jumbo loans have been the source of most of the loosening credit.

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