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One of the first data reports on 2018’s housing market offers good news: The Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) increased 2.1 percent to 182.9 in January.
All four components of the MCAI reported increases last month: The Conventional MCAI rose by 3.6 percent, the Government MCAI was up 0.9 percent, the Jumbo MCAI gained 6.1 percent and the Conforming MCAI inched up by 1.1 percent.
“Credit availability increased across the board in January, more than reversing December declines in almost all component indices,” said MBA’s Vice President of Research and Economics Lynn Fisher. “Jumbo credit programs rebounded most strongly and reached a new series high, driven by an increase in the number of programs with reduced documentation requirements. In government lending programs, credit availability remains somewhat lower than the rest of 2017.”
