Mortgage credit availability decreased in December according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae's AllRegs® Market Clarity® business information tool.
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.
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