Credit Is Loosening!

The Mortgage Credit Availability Index (MCAI) tracks whether lending standards are tightening or loosening, and is benchmarked against 100 for March, 2012. For July, it hit 125.5, up 2.9% from May, and continuing an almost uniformly upward trend since that original benchmark to hit a new high. The MCAI is a composite of four sub-indeces: conventional, jumbo, government, and conforming. Conventional and jumbo saw the most loosening, up 5.2% and 4.7%, respectively. More details and explanation are available at the World Property Journal.

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