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Mortgage credit availability fell in June to lowest level since Dec 2025

The Mortgage Bankers Association said the Government MCAI dropped 4.6% in June, while the jumbo index rose 0.6%.

Reported · Written up by our desk · Mortgages

HousingWire reports that mortgage credit availability tightened in June, with the Mortgage Credit Availability Index (MCAI) falling 2.0% to a reading of 105.8, the lowest level since December 2025. The decline was largely driven by government-backed lending. The Government MCAI, which covers FHA, VA, and USDA programs, fell 4.6% in June, according to MBA data.

Within conventional lending, credit availability was mixed. The Conventional MCAI dipped 0.1%, while jumbo availability increased 0.6%, and the Conforming MCAI fell 2.2%.

MBA attributed the broader contraction to lenders pulling back on government streamline refinance programs, particularly those tied to higher loan-to-value and lower credit score borrowers. HousingWire also noted that MBA’s MCAI is based on underwriting metrics and borrower eligibility criteria from more than 95 lenders and investors using data from ICE Mortgage Technology.

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