June 17, 2011

Michael Petruccelli asks; What about the Mortgage companies?

Michael Petruccelli says; Lending standards are tighter, often requiring a 20% down payment. And even qualified buyers are wary, not sure when home prices will bottom or whether Congress will trim mortgage interest deductions or kill 30-year loans. So homeownership will keep declining, from a peak of 69% to about 64%.