[…] Credit is getting harder to come by, especially for auto loans, mortgages and those with low credit scores. Amid an environment where lenders are tightening, borrowers are feeling discouraged. The Credit Access Survey released by the Federal Reserve Bank of New York showed that demand—as in application—was on par with previous readings. However, credit applications were rejected at a relatively elevated pace through this year and at the highest rate since the start of the survey in 2013. Overall rejection rates touched 21%, up 0.9% from 2023’s levels, per the release. Would-be borrowers saw their rejection rates climb and were elevated compared to other applicants with higher credit scores. [PYMNTS] […]