Mortgage credit availability was unchanged in September compared to August, according to the Mortgage Bankers Association's (MBA) Mortgage Credit Availability Index (MCAI).
The index score held steady at 116.1. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of a loosening of credit. The index was benchmarked to 100 in March 2012.
The report, which analyzes data from the AllRegs Market Clarity product, now covers credit availability for conventional and government loans as separate indexes. Both have historical data dating back to 2011.
According to the report, the government MCAI decreased less than 1%, month over month, in September, while the conventional MCAI increased less than 1%, in effect, off-setting each other.