Credit Availability Increases

Mortgage credit availability increased in January 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 1.8 percent to 117.8 in January. A decline in the MCAI indicates that lending standards are tightening, while increases in the index indicate a loosening of credit. “Several new initiatives aimed at making mortgage credit more available and affordable to consumers were recently announced and resulted in a net loosening of credit over the month,” said Mike Fratantoni, MBA’s chief economist.

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