Wednesday, January 15th, 2014
Home prices have been rising, the federal government is providing support to bolster the mortgage market, and the big banks that make home loans are strong enough to provide credit to borrowers.
Yet little has returned to normal since the 2008 financial crisis, leaving a large swath of borrowers virtually shut out of the market.
Read the article here (NY Times 1/14/14)
Tuesday, January 14th, 2014
Despite excellent credit, it’s still possible to be turned down for a mortgage due to new rules on verifying that borrowers have the ability to pay:
“I have loads of money. I own four properties free and clear. I have no debt. My credit file is impeccable. I have a credit score of 760. And I was just turned down for a mortgage.”
Read the article here (LA Times 1/12/14)
Monday, January 13th, 2014
If U.S. gross domestic product, the sum of all the goods and services produced in the economy, comes in at a 3% growth pace for the final three months of 2013, as many economists are forecasting, the economy could see the best half of a year in a decade.
Read the article here (WSJ 1/12/14)
