The Mortgage Bankers Association (MBA)’s monthly Mortgage Credit Availability Index (MCAI) increased in October by 2.3% to a reading of 106.8.

An increase in the MCAI, which relies on ICE Mortgage Technology data, is indicative of loosening credit. The index was benchmarked to 100 in March 2012. Conversely, a decline in the MCAI indicates that lending standards are tightening.

The conventional MCAI increased 4.1%, while the government MCAI increased by 0.1%. Of the component indices of the conventional MCAI, the jumbo MCAI increased by 5% and the conforming MCAI rose by 2%.

Joel Kan, MBA’s vice president and deputy chief economist, noted details ⇒

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