Mortgage Credit Availability Decreased in April
The Mortgage Bankers Association is reporting that their Mortgage Credit Availability Index (MCAI) decreased 12.2% in April, which they say is an indicator that lending standards are tightening. The MCAI report analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool. Indeed…
“The abrupt weakening of the economy and job market – and the uncertainty in the outlook – drove credit availability down in April for the second consecutive month,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting.
Click here to read the full report at the Mortgage Bankers Association.
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