September 4, 2023

Impact of DTI on Buying Choices

Lenders have guidelines regarding max DTI to approve a loan. Many lendaers allow for DTI ratios up to 50%. Still, loans with higher DTI ratios typically have worse terms. Higher DTI may require a higher down payment to meet loan approval criteria....

U.S. 30-year mortgage rates rise, inching closer to 8%

U.S. mortgage rates are inching closer to 8%, a two-decade high, making homeownership increasingly out of reach for many Americans. The Federal Reserve's aggressive tightening campaign against inflation is causing upward pressure on market rates, making existing home sales slump further and potential first-time borrowers hesitant. Lawrence Yun, chief economist at the National Association of...

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