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Mortgage Credit Availability on the Rise

Phil Hall
Nov 03, 2016

Last month was a positive 31-day stretch for potential homeowners: The Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) increased 2.6 percent to 171.3 in October.

All four MCAI component indices were on the rise last month: The Jumbo MCAI (up 5.8 percent), the Conventional MCAI (up four percent), the Conforming MCAI (up 2.2 percent), and the Government MCAI (up 1.6 percent).  

"Credit availability loosened in October driven by several different factors,” said Lynn Fisher, MBA’s vice president of research and economics. “The index was pushed up by an increase in the number of investors as well as an uptick in the availability of jumbo and high balance loan programs. We are also seeing greater availability of conventional conforming loan programs that are designed to provide home ownership to a greater number of consumers.”

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