The Mortgage Credit Availability

The Mortgage Credit Availability Index is a report from the Mortgage Bankers Association that calculates the availability of mortgage credit based on factors related to borrower eligibility, including credit score and loan type. In December, the index increased slightly, moving up 0.6 percent to 110.9 from 110.2 the month before. A decrease in the index indicates lending standards are tightening, while any increase indicates that credit is becoming more available. Benchmarked in March 2012 at 100, the index would have been at nearly 800 if it had been tracked in 2007, before the housing crisis when credit was much more readily available. The Mortgage Credit Availability Index is the only standardized quantitative index focused solely on mortgage credit.