Talking Points …
- Mortgage credit availability increased in May, according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA).
- The MCAI increased 0.5 percent to 122.6 in May. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of a loosening of credit.
- Of the four component indices, the Conventional MCAI and Conforming MCAI saw the greatest easing (both up 1.2 percent over the month) followed by the Government MCAI (up 0.1 percent). The Jumbo MCAI decreased over the month (down 0.1 percent).