Mortgage Catch-22: Interest Rates are Lower than Ever, But Millions of Borrowers Can’t Get a Loan

HousingWire, May 11, 2020–Ben Lane
As rates fell, making getting a mortgage a more enticing option for people, it also became much harder for certain people to get a loan. As the virus crisis worsened, numerous lenders raised their lending standards, thereby limiting the types of borrowers they’d lend to, because they were trying to protect against lending to borrowers who were either about to or just had lost their jobs.
https://www.housingwire.com/articles/mortgage-catch-22-interest-rates-are-lower-than-ever-but-millions-of-borrowers-cant-get-a-loan/