Last year ended with an uptick in mortgage credit availability, according to data from the Mortgage Bankers Association (MBA).
In December, the MBA’s Mortgage Credit Availability Index (MCAI) was up by 0.7% to 96.6; the index was benchmarked to 100 in March 2012. The Conventional MCAI increased 1.3% and the Government MCAI remained unchanged.
Of the component indices of the Conventional MCAI, the Jumbo MCAI rose by 2.3% but the Conforming MCAI stumbled by 0.7%.
“Credit availability increased slightly in December, driven by more offerings for ARMs and cash out refinances that are primarily for borrowers with better credit,” said Joel Kan, MBA’s vice president and deputy chief economist. “These factors led to a slight rebound in conventional credit compared to the previous month. Additionally, the jumbo index rose to its highest level since August 2024.”
