Mortgage access increased in May for the fifth consecutive month.  The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.9 percent to 189.5.  A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has two component indices, the Government MCAI which measures the availability of loans backed by FHA, the VA, and the USDA, and the Conventional index which itself has components for both conforming and jumbo loans. The Government MCAI decreased 0.6 percent while the Conventional MCAI was up 4.4 percent driven by a 6.8 percent gain in jumbo lending. The Conforming MCAI rose 0.9 percent.

 

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