Mortgage Credit Availability Drops in September
The Pro Builder
OCTOBER 16, 2024
Mortgage credit availability decreased in September, according to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI). Due to tighter lending standards, the index dropped by 0.5% to 98.5. The MCAI, benchmarked at 100 in March 2012, shows that a decline reflects stricter credit, while an increase indicates easier access. In September, the Conventional MCAI fell 1.7%, the Jumbo MCAI dropped by 2.6%, while the Conforming MCAI stayed the same.
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