Mortgage lending standards are so tight that homebuyers must have ‘pristine’ credit histories, study says, as sales head for 31-year low
"These changes helped to reduce delinquencies and defaults but also made it more difficult for many Americans to qualify for a mortgage."
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# Mortgage Market Tightening Hits Homebuyers Hard Lenders have implemented historically stringent underwriting standards requiring near-perfect credit profiles, contributing to home sales reaching a 31-year low as qualified buyer pools shrink. While these tighter standards have successfully reduced mortgage delinquencies and defaults, they simultaneously restrict access to credit for millions of Americans and signal headwinds for housing market recovery and mortgage-dependent financial institutions.
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