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Mortgage Credit Availability Index Falls to Lowest Level Since 2014

Mortgages haven’t been this hard to get in more than five years, as lenders tighten their standards during the fallout from the coronavirus pandemic. So reports Forbes.com.

According to the Mortgage Bankers Association, mortgage credit availability dropped for a second straight month in April.

Mortgage Credit Availability Index fell by 12.2% last month to 133.5, its lowest since December 2014, the MBA said.

Read the full article from Forbes.com.

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