Mortgage Credit Availability in U.S. Decreased in September

According to the Mortgage Bankers Association's latest Mortgage Credit Availability Index, U.S. mortgage credit availability decreased in September 2018. The MCAI decreased 0.8 percent to 182.1 in September. 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 (up 1.2 percent) and the Government MCAI decreased (down 2.5 percent). Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 2.7 percent while the Conforming MCAI decreased by 0.7 percent.