Mortgage Industry News
« Return to Mortgage Industry News
MBA Says Credit Supply Lowest in Six Years
Friday, September 11, 2020
The Mortgage Bankers
Association's (MBA's) Mortgage Credit Availability Index (MCAI) continued to drop
in August, an indication that lending standards are tightening. The index fell
by 4.7 percent to 120.9 in August. In January, before interest rates started an
unprecedented decline and servicers were instructed to grant forbearances to
existing borrowers, the MCAI was at 181.9. It was benchmarked to 100 in March
2012. Each of the four component
indices moved lower. The Conventional MCAI decreased 8.7 percent, while the
Government MCAI decreased by 1.4 percent. Of the component indices of the
Conventional MCAI, the Jumbo MCAI decreased by 8.9 percent, and the Conforming
MCAI fell by 8.6 percent.
Read Full Article