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Getting a Mortgage Isn't Getting Any Easier
Thursday, March 11, 2021
Access to mortgage credit remained unchanged in
February after making modest gains over the previous four months. The Mortgage
Bankers Association said its Mortgage Credit Access Index, was remained at the
January level of 124.6. A lower score indicates a tightening of mortgage credit
standards. The index was benchmarked to 100 in March 2012. The MCAI had dropped from 181.3 in February 2020 down
to 118.6 by September as the financial impacts of the pandemic became apparent
and mortgage delinquencies rose. The index became to increase in October
although the recovery has been both slow and uneven.
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