Consumer Pessimism Grows Over Tighter Credit Access Amid High Inflation, Rates

• Consumer perceptions that credit standards have tightened remained high in March based on two surveys

• 68% of consumers anticipate credit being harder to obtain in the coming year, the highest level in 4 months

• High debt, higher interest rates, and inflation are weighing on households and likely limiting lenders' risk tolerance

• 58% think it would now be difficult to get a mortgage, up 4 percentage points since February and 6 points year-over-year

• Stricter lending standards make it harder for consumers to get loans for homes, credit cards, autos, etc.