The National Association of Credit Managers published the November results of their benchmark credit index today. For the second straight month the credit index surpassed the breakeven index number of 50. The index was at 34 a year ago, but increased to 51 in October and 55 in November.

What does this mean for the average consumer? It means the banks are loaning money again. Credit demand has been increasing as faith in the stability of the economy has increased, so a higher credit index score means more of those loans are getting funded. More demand for credit plus more credit getting granted equals a way out of the economic mire we’ve been in for the past 18 months or so.

It’s my strongly held personal opinion that this trend must, and will, continue as the New Year rolls around, based on personal observations of credit trends and industry reports. This is excellent news for all of us. But keep in mind, loan requirements, while relaxed compared to last year, are still much higher than before the economic downturn began, so it’s more important than ever to have your credit in shape.

If you’d like to view the report yourself, it can be found here.