Mortgage credit availability dropped in May to a reading of 120, according to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI). It is the third straight month of decline, and this reading is the lowest level since July 2021. The MCAI analyzes data from ICE Mortgage Technology. A decline in the MCAI shows lending…
Mortgage credit availability grew slightly in December 2021, increasing by 0.8% to 125.9, according to the Mortgage Banker Association’s (MBA) Mortgage Credit Availability Index (MCAI). The Conventional MCAI rose by 0.8%% while the Government MCAI rose by 0.7%. Within the Conventional MCAI, the Jumbo MCAI rose by 0.6% and the Conforming MCAI rose by 1.1%….
Mortgage credit availability rose by 1.5%, according to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). This is its highest level since May 2021. The index analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool. The MCAI rose to 125.6, with the Conventional MCAI increasing 4.5% while the Government MCAI fell…
A change in the way creditworthiness is determined would increase home-buying opportunities for Black and Latino homebuyers, according to new research released at an event held by National Association Realtors. The research, authored by Ann B. Shnare and Vanessa Gail Perry, examines how reforms to current credit bureau data and scoring models can provide a…
It got just a little bit easier to lock down a mortgage last month. The Mortgage Bankers Association’s updated Mortgage Credit Availability Index released Tuesday increased by 2.0 percentage points to 124.6, indicating a looser credit market than the month before. The Conventional MCAI increased 4.8 percent, while the Government MCAI decreased by 0.1 percent….
Mortgage credit freed up in November to its highest level since July, according to a new report released by the Mortgage Bankers Association. Overall, the Mortgage Credit Availability Index has fallen significantly since the start of the Covid-19 pandemic – down 30 percent below pre-pandemic levels. After months of decline, the MCAI rose by 0.7…
Mortgage rates remain at record lows, but mortgage credit keeps getting harder and harder to obtain. The Mortgage Bankers Association reports that mortgage credit availability decreased in yet again in September, reaching the lowest level since February 2014 and down roughly 50 percent this year. The Mortgage Credit Availability Index (MCAI) fell 1.9 percent 118.6…
Low rates, scarce credit. With mortgage rates at historically low levels, mortgage credit availability in the United States decreased even further in June, according to a report released Thursday by the Mortgage Bankers Association. MBA’s Mortgage Credit Availability Index fell by 3.3 percent to 125 in June – reflecting a 30 percent drop in credit…
Mortgage credit keeps getting tighter, but the decrease in credit availability leveled off in May, the Mortgage Bankers Association reported Tuesday. May marked the sixth straight month that saw mortgage credit tighten, falling 3.1 percent in the month. Mortgage credit availability has decreased by nearly 32 percent over the last six months, according to MBA’s…
By Jim Perskie Economic difficulties caused by the coronavirus are making it harder for borrowers to obtain mortgage credit, even as interest rates have plunged to historic lows. The Mortgage Bankers Association announced Thursday that the Mortgage Credit Availability Index (MCAI) dropped 12.2 percent in April, reflecting a tightening of the lending standards in the…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!