The Mortgage Bankers Association (MBA) said access to
mortgage credit improved in November for the first time in several months
but is
still only about two thirds of its pre-pandemic levels. MBA’s Mortgage Credit
Availability Index (MCAI) gained 0.7 percent compared to October, rising to
1.22.2. A decline in the MCAI indicates that lending standards are tightening,
while increases in the index are indicative of loosening credit. The MCAI has component indices for each major loan type. The Conventional
MCAI increased 1.3 percent and the Government index rose 0.3 percent. The two component
indices of the Conventional MCAI, the Jumbo MCAI and the Conforming MCAI gained
1.6 percent and 0.9 percent, respectively.  


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