Mortgage credit availability remained unchanged in February, according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association, which analyzes data from Ellie Mae’s AllRegs market clarity business information tool.

Last month, the MCAI remained unchanged at 123.8, reported by Kelsey Thompson of HousingWire. If the MCAI were to increase it would indicate loosening credit, while a decrease would signal tightening lending standards.

"Credit availability was flat over the month,” said Lynn Fisher, MBA vice president of research and economics. “Slight declines in conventional programs aimed at low-to-moderate income borrowers were offset by increasing availability of government-backed programs.”

“More than half of the investors in our credit availability data set are now offering some form of a conventional low down payment loan program which is targeted at lower-income borrowers and first-time home buyers and generally allows a down payment as low as 3%," he said.

Read more >