The Mortgage Bankers Association’s Mortgage Credit Availability Index is a monthly measure of how easy it is for borrowers to secure financing. When credit is tight, lending standards are higher and borrowers face more challenges. When it loosens, the supply of credit, number of loan programs, and chance of approval all increase. The MBA tracks this on a scale where any decline indicates credit is tightening, while increases indicate improvement. In April, the index was unchanged after seeing significant gains in March. Joel Kan, MBA’s vice president and deputy chief economist, says credit has been improving over the past few years. “Credit availability was unchanged in April following a sizable increase in March,” Kan said. “Overall levels of credit supply remain tight but have generally grown since 2023, as lenders continue to offer cash-out refinance loan programs as well as jumbo and non-QM loans.” The index was benchmarked to 100 in March 2012 and is currently at 102.9. (source)
