Posted To: MND NewsWire

Non-government lenders continue to return to mortgage lending after fleeing at the start of the pandemic. The Mortgage Bankers Association (MBA) says this has helped increase the supply of jumbo mortgages for six straight months and helped drive MBA’s Mortgage Credit Availability Index (MCAI) up slightly in March. The Index rose 0.6 percent to 125.4 last month. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The Conventional MCAI increased 0.8 percent, while the Government MCAI increased by 0.4 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 1.5 percent, and the Conforming MCAI rose by 0.2 percent. “Credit availability inched higher in March, driven by the ongoing…(read more)

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Source: Mortgage News Daily