Mortgage Credit Availability Continues to Improve

Posted To: MND NewsWire

Access to mortgage credit continued its recent upward trend in November. The Mortgage Bankers Association said on Monday that its Mortgage Credit Availability Index (MCAI), increased by 1.6 percent from October to 174.1. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. Lynn Fisher, MBA's Vice President of Research and Economics said of the index, "Mortgage credit availability increased for the third consecutive month in November, driven by increased availability of conventional low down payment and streamlined refinance loan programs." Of the four component indices, the Conforming MCAI saw the greatest increase in availability over the month (up 2.2 percent), followed by the Government MCAI (up 1.8 percent...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily http://ift.tt/2gtGU2c