According to the most recent report from the Mortgage Bankers Association, mortgage credit continues to improve. The mortgage credit availability index increased 0.44%, averaging 113.5 last month. Experts say that if the MCAI was tracked in 2007, the index would be approximately 800. Mortgage Bankers Association’s chief economist, Mike Fratantoni said, “for the third month in a row, mortgage lenders and investors slightly expanded credit offerings in February on net, as a result of offsetting factors.” More here
