In the early 2000s, it wasn’t difficult to obtain a home mortgage, and many loans were given to individuals who provided false information about their incomes and employment, ultimately being unable to afford homeownership. This contributed to the housing bubble. However, lending standards have significantly tightened since then. Lenders now impose tougher standards, and borrowers who qualify for mortgages typically have excellent credit. The Mortgage Credit Availability Index (MCAI) reflects this change, with the index decreasing after the housing crash and remaining at low levels. In fact, the MCAI is currently at its lowest level since January 2013. These tighter lending standards indicate that the housing market today is significantly different from the past, with reduced risk for both lenders and borrowers.