Mortgage Availability

Mortgage credit availability fell to its lowest level in more than six years in August as the industry manages its way through the coronavirus pandemic, the Mortgage Bankers Association announced. The Mortgage Credit Availability Index dropped by 4.7 percent to 120.9 in August, indicating that lending standards are tightening. The conventional loan MCAI decreased 8.7…

Mortgage credit was slightly more available last month after tightening every other month of the year to date, according to the Mortgage Credit Availability Index released by the Mortgage Bankers Association. The MCAI rose by 1.5 percent to 126.9 in July. The Conventional MCAI increased 2.9 percent, while the Government MCAI increased by 0.4 percent….