Mortgage credit availability appeared to decrease again in June. It was the fourth consecutive month the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) has declined. All four of the index's components pointed down, indicating that lending standards have tightened across the board. The MCAI decreased from 121.4 in May to 119.8, a dip of 1.3 percent. The index hit a recent peak of 128.4 in October 2015 and has declined almost steadily since then. The Conventional MCAI saw the greatest tightening (down 2.4 percent) over the month followed by the Conforming MCAI (down 1.8 percent), the Jumbo MCAI (down 0.9 percent), and the Government MCAI (down 0.3 percent). "Credit availability decreased over the month driven primarily by a decrease in availability of conventional
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