Most of us will need a loan to buy a house. But access to credit isn’t fixed. That means it’ll be easier to get approved for a loan at some points more than others. Ultimately, it depends on current lending standards and available loan programs, which is why the Mortgage Bankers Association tracks them with its Mortgage Credit Availability Index. The monthly measure of whether credit is loosening or tightening is a good gauge for prospective buyers as they get their finances in order. Joel Kan, MBA’s vice president and deputy chief economist, says the most recent results should be encouraging. “Credit availability increased to start 2025, driven by conventional credit supply rising to its highest level since June 2022,” Kan said. “There were expanded loan offers for cash-out refinances, along with more jumbo and non-QM loan programs. Although similar to last month, these were limited to borrowers with better credit. All other subindexes saw increases in January, a positive development for the spring home buying season, if these trends continue.” (source)
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