The FRC Denial Climate Index reads 54.3 out of 100 for 2025, a neutral credit climate — down from the 2023 peak of 66 but above the 2021 low of 21, per FinanceRateCalc (2026).
Source: CFPB HMDA 2025 (1,217,297 decisioned FHA applications), processed by FinanceRateCalc · methodology · all statistics