Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) reports mortgage credit increased 0.5 percent from 115.8 in June to 116.4 in July, 2014, according to worldpropertychannel.com. Benchmarked at 100 in March 2012, an index increase indicates credit is loosening while a drop in the index notes tightening of credit. A rise in the number of jumbo Adjustable Rate Mortgage (ARM) programs spurred the MCAI’s rise, as MHProNews has learned, as did an increase in the availability of Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loan programs. ##

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