Mortgage credit availability was flat in April, thus the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) remained unchanged at a score of 102.9.
A decline in the MCAI indicates that lending standards are tightening, while increases are indicative of loosening credit. The index was benchmarked to 100 in March 2012.
Credit availability for conventional and government loans remained unchanged. Credit for jumbo loans decreased by 0.1% while credit for conforming loans increased by 0.2%.
“Credit availability was unchanged in April following a sizable increase in March,” says Joel Kan, vice president and deputy chief economist for the MBA, in a release. “Overall levels of credit supply remain tight but have generally grown since 2023, as lenders continue to offer cash-out refinance loan programs as well as jumbo and non-QM loans. Lenders remain positioned for potential refinance opportunities as mortgage rates continue to fluctuate.”
Photo: Breno Assis