Mortgage Credit Availability Increased in January

Mortgage credit availability increased in January according to the Mortgage Credit Availability Index (Mortgage Bankers Association)

The MCAI rose by 2.0 percent to 124.6 in January. 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 4.8 percent, while the Government MCAI decreased by 0.1 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 2.2 percent, and the Conforming MCAI rose by 7.7 percent.