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U.S. Mortgage Credit Availability Increased in June

July 11, 2019 / WPJ Staff

According to a new report from the Mortgage Bankers Association, U.S. mortgage credit availability increased in June 2019, based on their the Mortgage Credit Availability Index (MCAI). The MCAI rose 0.2 percent to 189.8 in June. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The index was benchmarked to 100 in March 2012. The Conventional MCAI increased 0.3 percent, while the Government MCAI decreased slightly (0.1 percent). Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 0.6 percent, and the Conforming MCAI fell by 0.1 percent