Non-government lenders continue to return to mortgage
lending after fleeing at the start of the pandemic. The Mortgage Bankers
Association (MBA) says this has helped increase the supply of jumbo mortgages for
six straight months and helped drive MBA’s Mortgage Credit Availability Index
(MCAI) up slightly in March. The Index rose 0.6
percent to 125.4 last month. A decline in the MCAI indicates that lending standards are tightening, while
increases in the index are indicative of loosening credit. The Conventional
MCAI increased 0.8 percent, while the Government MCAI increased by 0.4 percent.
Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by
1.5 percent, and the Conforming MCAI rose by 0.2 percent.