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Mortgage Credit Availability Dips In January nationalmortgageprofessional.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgageprofessional.com Daily Mail and Mail on Sunday newspapers.
Mortgage credit availability decreased in July to its lowest point since March 2013. That’s according to the Mortgage Credit Availability Index (MCAI), a report released today from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology. ....
Two full years after the COVID-19 virus upended life the Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI) remains some 50 points below the range where it had hovered for several years before the pandemic hit. MBA says the index, fell 07 percent in March, to 125.1. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has four components. The Conventional MCAI increased 0.3 percent, while the Government MCAI decreased by 1.6 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 1.5 percent, and the Conforming MCAI fell by 1.9 percent. Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting said, “Overall credit availability was down slightly in March, driven by a reduction in higher LTV, lower credit score programs. Credit availability has gradually trended higher since mid-2021 ....
Even as the economy is improving, access to mortgage credit fell in January as investors cut back their demand for some products. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) for the month fell 0.9 percent to 124.8.  A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. Four components make up the MCAI and only the index reflecting access to government guaranteed products moved higher. The Conventional MCAI decreased 2.5 percent, while the Government MCAI increased by 0.7 percent. The Conventional MCAI has two components of its own; the Jumbo MCAI decreased by 1.6 percent, and the Conforming MCAI fell by 4.2 percent. “Credit availability declined to its lowest level since August 2021, even as the economy and job market continued to improve,” said Joel Kan, MBA’s Associate Vice President of Economic an ....
Mortgage credit loosened a bit last month but the Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI) which measures credit access remains well below pre-pandemic levels which often topped 180. MBA says the index gained 0.8 percent to a 125.9 reading in December. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The December reading was the highest since March 2020. The index began a precipitous eight-month slide in February 2020 as lenders tightened underwriting in anticipation of a COVID-19 induced housing crises. The index stabilized in the summer of 2020 but has not improved significantly since then.  The index, which analyzes data from a proprietary Ellie Mae business information tool, has four components, all of which moved higher in December. The Conventional MCAI increased 0.8 percent, while the Government MCAI increased by 0.7 p ....