Access to jumbo mortgage credit continued
to increase in November, but the Mortgage Bankers Association (MBA) says it is
still down significantly from pre-pandemic levels. Overall access fell during
the month according to MBA’s Mortgage Credit Availability Index (MCAI) which
dipped by 0.6 percent. The decrease, however, was due solely to a constriction
on the government loan side. The MCAI was at 124.9 in November. In February
2020, as the pandemic was taking hold, it had a reading of 181.3. A decline in
the index is indicative of tightening credit. The index has four
components. The Conventional MCAI
increased 1.9 percent last month, while the Government MCAI decreased by 2.7
percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI
increased by 3.0 percent, and the Conforming MCAI rose by 0.2 percent.


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