MBA: Mortgage Credit Availability Index Rises to 107.5 in October, Ending Two Monthly Declines
Mortgage credit availability increased in October, according to the Mortgage Credit Availability Index (MCAI) released by the Mortgage Bankers Association (MBA). The index rose 0.4 percent to 107.5, ending two consecutive monthly declines.
The MCAI is benchmarked to 100 in March 2012; a higher reading indicates loosening credit. The Conventional MCAI rose 0.6 percent and the Government MCAI rose 0.1 percent. Within the conventional segment, the Jumbo MCAI increased 0.8 percent to its highest level in three months, while the Conforming MCAI was unchanged from the prior month.
The index is built from loan program data supplied by ICE Mortgage Technology, covering more than 95 lenders and investors, and serves as a monthly gauge of mortgage credit conditions in the United States.
"Mortgage credit availability increased in October after two months of declines, with lenders adding more ARM loan programs for low LTV borrowers, including cash-out refinances," said Joel Kan, MBA's Vice President and Deputy Chief Economist.
(Source: Mortgage Bankers Association)
Source: Mortgage Bankers Association
Published by GSM · USA (original Chinese edition)
Photo: 房贷信贷可得性指数（MCAI）走势图，10月升至107.5（MBA图表）
