MBA Career Growth: A Comprehensive Guide to Mortgage Credit Availability

Last Updated on May 9, 2024 by Robert C. Hoopes

According to the latest data from the Mortgage Bankers Association (MBA), mortgage credit availability saw a slight increase in April. The Mortgage Credit Availability Index (MCAI) rose by 0.1 percent to 94.0, indicating a loosening of credit standards.

Joel Kan, MBA’s Vice President and Deputy Chief Economist, noted that while credit supply has stabilized, it remains near 2012 lows. The Conventional MCAI saw a 0.3 percent increase, while the Government MCAI remained unchanged. The Jumbo and Conforming MCAIs within the Conventional MCAI also experienced slight upticks.

The MCAI, which considers borrower eligibility and underwriting criteria for over 95 lenders/investors, offers valuable insights into mortgage credit availability. It is benchmarked to 2012 levels, providing a snapshot of the current state of the market.

Furthermore, the Total MCAI offers a historical series dating back to 2004, giving context to current trends in credit availability. This data is crucial for industry professionals and homebuyers alike, as it helps them understand the lending landscape and make informed decisions.

With the mortgage credit landscape showing signs of improvement, industry experts are cautiously optimistic about the future. As the housing market continues to evolve, monitoring these trends will be essential for anyone looking to secure a mortgage in the coming months.