Mortgage Bankers Association (MBA) reports that mortgage credit availability decreased in May according to the Mortgage Credit Availability Index (MCAI), a report that analyzes data from ICE Mortgage Technology. The MCAI fell by 0.9% to 120 in May. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The index was benchmarked to 100 in March 2012.
“Mortgage credit supply declined for the
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