The latest research on home buyers from the National Association of REALTORS® shows the effects of tight mortgage lending standards on the market.
The association says that these conditions are keeping qualified buyers, especially singles and first-time buyers, from reaching their dreams.“Single home buyers have been suppressed for the past three years by restrictive mortgage lending standards, which favor dual-income households who are more likely to have higher credit scores,” says Lawrence Yun, NAR chief economist. He added that “historically, first-time buyers are instrumental in housing recoveries because they help existing home owners sell and make a trade
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