Mortgage Credit Availability Up in June – NMP Skip to main content

Mortgage Credit Availability Up in June

Jul 08, 2014

Mortgage credit availability increased in June according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from the AllRegs Market Clarity product.  The MCAI increased 0.6 percent from 115.1 in May to 115.8 in June. 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.  Mortgage credit loosened somewhat in June as a result of a slight net loosening in lender criteria regarding Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans with respect to minimum credit scores and maximum loan-to-value (LTV) ratios.
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Jul 08, 2014
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