Mortgage credit became more widely available in January, according to the Mortgage Bankers Association (MBA).

Access to credit broadly increased among loan types, with the conventional credit supply rising “to its highest level since June 2022,” said Joel Kan, MBA’s deputy chief economist.

“There were expanded loan offerings for cash-out refinances, along with more jumbo and non-QM loan programs,” Kan said.

Kan noted that the credit easing tended to be “limited to borrowers with better credit.”

But, he added, this is “a positive development for the spring homebuying season, if these trends continue.”

In technical terms, the overall Mortgage Credit Availability Index (MCAI) rose 2.5% to 99 in January. Increases indicate credit conditions are loosening.

The conventional MCAI increased 3.8%; the government MCAI was up 1%; jumbo, 5.3%; and conforming, 0.5%, MBA reported.