US Mortgage Credit Availability Steady in April After March Spike

On Thursday, the Mortgage Bankers Association (MBA) released its Mortgage Credit Availability Index (MCAI) report for April. Mortgage credit availability remained unchanged in April.

The MCAI held steady at 102.9 in April. A decline in the MCAI signals tighter lending standards, while an increase indicates more lenient credit conditions. The index was benchmarked to 100 in March 2012.

Both the Conventional and Government MCAIs remained unchanged. Within the Conventional MCAI, the Jumbo MCAI decreased by 0.1%, while the Conforming MCAI rose by 0.2%.

Commenting on the report, MBA Vice President and Deputy Chief Economist Joel Kan said:

“Credit availability was unchanged in April following a sizable increase in March. Overall, credit supply remains tight but has generally grown since 2023, with lenders continuing to offer cash-out refinance programs as well as jumbo and non-QM loans. Lenders are positioned for potential refinance opportunities as mortgage rates continue to fluctuate.”