first time home buyer in squeeze

Mortgage and Lending with kandola mortgage services


According to the National Association of Home Builders (remember the source!), mortgage lenders have

tightened credit guidelines so much they're squeezing about 500,000 first-time buyers out of the market. A

decline of that magnitude would reduce sales of new homes by 4% and sales of existing homes by 7 percent.

According to the association, about 2.5 million people will buy homes for the first time this year, down from 3

million in 2005.


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