Mortgage Credit Unchanged in February: MBA

Mortgage credit availability stayed the same in February, based on data analyzed by the Mortgage Bankers Association.

The MBA's Mortgage Credit Availability Index was 123.8 in February, the same as in January, the organization said in a press release Thursday. While the headline figure remained unchanged, various components did tighten and loosen.

"Credit availability was flat over the month," said Lynn Fisher, MBA vice president of research and economics. "Slight declines in conventional programs aimed at low- to moderate-income borrowers were offset by increasing availability of government-backed programs."

The index for conforming credit loosened the most, rising 1% higher from the previous month. The index for government credit also eased, growing 0.6%. The indexes for both conventional and jumbo credit both tightened, dropping by 0.6% and 0.8%, respectively.