Mortgage Credit Availability Up for Fifth Month

Posted To: MND NewsWire

Increased availability and flexibility in jumbo lending was the principal reason for an increase in the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) in January. An increase in the index indicates a loosening of lending standards. The MCAI increased by 1.1 percent in January to 177.1. Among the four components that make up the index, the Jumbo MCAI saw the greatest increase , rising by 4.7 percent. The Conventional MCAI was up by 2.3 percent and the Government component increased 0.2 percent. The index measuring the availability of conforming loans declined by 0.1 percent. Lynn Fish, MBA's Vice President of Research and Economics said, "Mortgage credit availability increased for the fifth consecutive month in January, driven by increased availability of jumbo...(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/2kITPmw