Mortgage Financing Problems Taking Toll on Home Sales, New IMF-Sponsored Study Finds
November 13, 2008
This year’s significant tightening of mortgage credit standards is taking its toll on would-be homebuyers looking to capitalize on reduced home prices. According to a new study sponsored byInside Mortgage Finance, nearly one in seven home sale contracts nationwide were cancelled during September and October because buyers were unable to obtain mortgage financing. Separately, the...