“Mortgage credit availability increased in June according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from the AllRegs® Market Clarity® product, ” the MBA announces.
Read the MBA press release: Mortgage Credit Availability Increases Slightly in June.
The MCAI increased 0.6 percent from 115.1 in May to 115.8 in June. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of a loosening of credit. The index was benchmarked to 100 in March 2012.