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Low Down Payment Loans Increase Credit Access Measure

Thursday, November 5, 2015

An increase in conforming loan program offerings helped boost the Mortgage Bankers Association's (MBA's) measure of credit access in October.  MBA's Mortgage Credit Availability Index (MCAI) increased 1.5 percent to 128.4.

The index is based on data from Ellie Mae's AllRegs® Market Clarity® business information tool. A decline in the MCAI indicates that lending standards are tightening while increases are a sign that credit is easing. 

The four component indices also rose during the month with the Conforming MCAI seeing the greatest increase, up 2.7 percent.  The Government component rose 1.9 percent, while the Conventional and Jumbo MCAIs were up 0.8 and 0.5 percent respectively.

 

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