Mortgage Credit for Some Americans Drying Up Amid Supply Deluge

Bloomberg, Oct. 15, 2020–Christopher Maloney
The Mortgage Bankers Association’s index of housing credit availability dropped last month to the lowest since February 2014. The benchmark has slipped eight of nine months this year and stands 35% lower than at the same time in 2019. The index is a broad measure of credit supply that weights various borrower credit characteristics and the range of products available to them.