Homebuyers with bad credit increasingly locked out of the market

Not everyone is reaping the benefits of a low-mortgage rate environment. As mortgage lenders tighten their belts, available housing credit has hit the lowest level since February 2014, leaving hopeful homebuyers with poor credit scores struggling to qualify for loans, Bloomberg News reports. The Mortgage Bankers Association’s index tracking available housing credit monthly has fallen eight of the nine months this year. The index is down 35 percent year-over-year. One of the starkest examples is

source https://therealdeal.com/2020/10/16/homebuyers-with-bad-credit-increasingly-locked-out-of-the-market/