MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News
42
June 2025
J O U R N A L
industry following a slow pace of origina-
tion activity in 2023. The significant, but
brief, dip in interest rates in September,
followed by a pickup in market sentiment
post-election resulted in more business,
with origination activity back to 2022
levels," said Mike Fratantoni, MBA's SVP
and Chief Economist. "The triple-digit
percentage increases in the origination
indexes certainly reflect this bounce off
a low base. With interest rates moving
up again to start 2025, we will have to
see how origination activity responds
through the first quarter. However, MBA
still expects more borrowing and lending
in 2025."
APRIL MORTGAGE
CREDIT
AVAILABILITY
SNAPSHOT
T
he Mortgage Credit Availability
Index (MCAI), a new survey
from the Mortgage Bankers
Association (MBA) that examines
data from ICE Mortgage Technology,
showed that mortgage credit availabil-
ity was stagnant in April. While an in-
crease in the index signifies loosening
credit, a decrease in the MCAI suggests
tightening lending rules.
"Credit availability was unchanged
in April following a sizable increase in
March," said Joel Kan, MBA's VP and
Deputy Chief Economist. "Overall levels
of credit supply remain tight but have
generally grown since 2023, as lenders
continue to offer cash-out refinance loan
programs as well as jumbo and non-QM
loans. Lenders remain positioned for
potential refinance opportunities as
mortgage rates continue to fluctuate."
Key Highlights — MCAI
• In April, the MCAI stayed steady at
102.9.
• In March 2012, the index was bench-
marked at 100.
• In contrast, the Government MCAI and
Conventional MCAI did not change.
• The Conforming MCAI increased
by 0.2%.
