Photo: Daniel Barnes / Unsplash. Illustrative stock photograph; not a property or company discussed in this article. Getting a mortgage in America is not mainly a credit problem right now. It is a math problem. Start with what lenders are offering. The Mortgage Bankers Association's Mortgage Credit Availability Index slipped 0.2% in September to 107.1, according to HousingWire. That followed a 1% drop in August. A lower reading means tighter standards. The index was set at 100 in March 2012,…
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Lenders Aren’t Slamming the Door on Borrowers. The Monthly Payment Is Doing It for Them.
Mortgage credit availability barely changed in September, but higher rates and debt-to-income limits are putting the typical home beyond many buyers' reach.
