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Volume 2017 - Number 6

February 9, 2017

NAR Cites ‘Imaginary Barriers’ to Purchase-Mortgage Lending, and Affordability as an Actual Concern

A number of factors – including misconceptions – are preventing some potential homebuyers from pursuing purchase mortgages, according to the National Association of Realtors. The trade group said it has found “real and imaginary barriers holding back prospective homebuyers.” The so-called imaginary barriers involve potential borrowers’ perceptions about downpayment requirements. “Apparent confusion about downpayment requirements may be...

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

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