There was a 2.2% increase in the availability to consumers of mortgage product offerings from June to July, according to AllRegs and the Mortgage Bankers Association.
The Mortgage Credit Availability Index’ improvement to 112.27 in July from
Although the index was formally rolled out in May, calculations based on previous data show this is the fifth consecutive month where mortgage product offerings have improved.
MCAI is calculated using data from MBA and AllRegs.
The base period for the index is March 2012, which is pegged to 100. The only the index was below 100 since that month was in July 2012.