Mortgage credit availability inched higher in May, driven by a modest loosening in jumbo loan programs, according to the Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology.

The MCAI rose 0.1% to 108.0 in May. The index, which was benchmarked to 100 in March 2012, increases when lending standards loosen and declines when credit tightens.

The Conventional MCAI increased 0.2%, while the Government MCAI — which includes Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA) loan details ⇒

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