Housing Credit Availability Index

The Housing Finance Policy Center’s latest credit availability index (HCAI) shows that mortgage credit availability dipped slightly to 5.3 in the second quarter of 2015, down from 5.5 in the previous quarter. Availability still remains above the low of 4.6 found in the third quarter of 2013.

The HCAI measures the percentage of purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lenders are willing to tolerate defaults and are taking more risks, making it easier to get a loan…

Click Here to find out more (Via Urban Institute)