Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) said access to mortgage credit improved in November for the first time in several months but is still only about two thirds of its pre-pandemic levels. MBA’s Mortgage Credit Availability Index (MCAI) gained 0.7 percent compared to October, rising to 1.22.2. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has component indices for each major loan type. The Conventional MCAI increased 1.3 percent and the Government index rose 0.3 percent. The two component indices of the Conventional MCAI, the Jumbo MCAI and the Conforming MCAI gained 1.6 percent and 0.9 percent, respectively. “Mortgage credit availability increased slightly in November to its highest level since…(read more)

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Source: Mortgage News Daily