Lending standards tighten due to high rates, worsening economic outlook
Housing Wire
NOVEMBER 15, 2022
Lending standards tightened in October, largely due to higher mortgage rates and the worsening outlook for the economy, the Mortgage Bankers Association (MBA) said. The mortgage credit availability index (MCAI) fell by 0.5% to 102.0 last month, marking eight consecutive months of decline. This caused it to reach its lowest level since March 2013, according to the MBA.
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