Mortgage Credit Availability in U.S. Dips in January

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According to the Mortgage Bankers Association's Credit Availability Index, mortgage credit availability in the U.S. decreased in January 2016.

The MCAI decreased 0.4 percent to 123.8 in January.  A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.  The index was benchmarked to 100 in March 2012. Of the four component indices, the Conforming MCAI saw the greatest tightening (down 1.5 percent) over the month followed by the Government MCAI (down 0.8 percent). The Conventional MCAI was unchanged, while the Jumbo MCAI increased 0.2 percent over the month.

"Credit availability decreased over the month, driven by a decline in some FHA and conventional offerings as compared to the previous month. These declines in the MCAI were only partially offset by loosening among adjustable rate mortgage (ARM) and jumbo lending programs," said Lynn Fisher, MBA's Vice President of Research and Economics.