Mortgage Credit Availability Fell in January: MBA

Mortgage credit availability decreased in January, on a decline in some Federal Housing Administration and conventional offerings, according to the Mortgage Bankers Association.

The Mortgage Credit Availability Index fell 0.4% to 123.8 for the month of January, compared to December. A decrease indicates a tightening of lending standards; an increase indicates a loosening of credit.

The index is calculated using loan program data from Ellie Mae's AllRegs Market Clarity product. In March 2012, the MCAI was benchmarked to 100.

The conforming MCAI reported the greatest tightening, as it fell 1.5%, and the government MCAI fell 0.8%. The conventional MCAI was unchanged, while the jumbo MCAI rose 0.2%.