The Mortgage Bankers Association (MBA)’s monthly Mortgage Credit Availability Index rose 10 basis points in August to a reading of 104.0.

The MBA‘s index, which relies on ICE Mortgage Technology data, rose for a second consecutive month. July’s index increased by 0.2% to a reading of 103.9 and was driven by the increased availability adjustable-rate mortgages (ARMs).

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.

The conventional MCAI rose 0.3%, driven by an 0.7% increase in the conforming details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com