Credit Availability Decreased in December

Mortgage credit availability decreased in December according to the Mortgage Credit Availability Index (Mortgage Bankers Association)

The MCAI fell by 0.1 percent to 122.1 in December. 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 decreased 2.8 percent, while the Government MCAI increased by 2.1 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 1.4 percent, and the Conforming MCAI fell by 7.2 percent.