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During the housing boom, anyone who could fog a mirror could get a mortgage. Today, only highly qualified borrowers can get financing — let alone the best rates. The latest data from the Federal Reserve shows that nearly a quarter of people who apply for loans are turned down.
“Good borrowers with one or two blemishes on their credit are being denied credit,“ said Lawrence Yun, chief economist for the National Association of Realtors. Get the full story »
The number of Americans who signed contracts to buy homes rose in December, marking the fifth increase in six months.
The National Association of Realtors says its index of sales agreements for previously occupied homes rose 2 percent last month. The index posted a 3.1 percent increase in November. Get the full story »
The number of people who signed contracts to buy homes fell in September after two months of gains, a possible fallout from foreclosure moratoriums that have disrupted activity in the housing market.
The National Association of Realtors said Friday that its index of sales agreements for previously occupied homes dropped 1.8 percent in September, to 80.9. Contract signings fell in every region except the West. Get the full story »
