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Fed data shows rejection rate for US credit applicants climbed to its highest in 5 years

A Federal Reserve survey published on Monday pegged the rejection rate for U.S. credit applicants at to 21.8% in the twelve months through Junethe highest level seen since the same period five years agoand compares with 17.3% in the previous, February, survey prior to the failure of Silicon Valley Bank and other regional lendersMore Americans have been getting rejected for loans as banks tighten credit conditions amid rising borrowing costs. The survey logged sharp increases in reported expectat... Read More

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Posted: Jul 17 2023, 23:33

Author Name: forexlive

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