Mortgage credit availability remained unchanged from March to April, according to the Mortgage Credit Availability Index (MCAI) data from the Mortgage Bankers Association (MBA).
The MCAI remained unchanged at 102.9 in April; the index was benchmarked to 100 in March 2012. The Conventional MCAI and the Government MCAI both remained unchanged.
Of the component indices of the Conventional MCAI, the Jumbo MCAI decreased by 0.1% and the Conforming MCAI rose by 0.2%.
“Credit availability was unchanged in April following a sizable increase in March,” said Joel Kan, MBA’s vice president and deputy chief economist. “Overall levels of credit supply remain tight but have generally grown since 2023, as lenders continue to offer cash-out refinance loan programs as well as jumbo and non-QM loans. Lenders remain positioned for potential refinance opportunities as mortgage rates continue to fluctuate.”
