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More First-time Buyers Enter the Market Even As Prices Rise

Mortgage News > More First-time Buyers Enter the Market Even As Prices Rise
Date: 05/29/2018    More First-time Buyers Enter the Market Even As Prices Rise

The number of first-time homebuyers has grown by 1% in the past year, according to the American Entreprise Institute (AEI), even as home prices and mortgage interest rates have continued to rise. These conditions put pressure on first-time homebuyers to take out larger home loans than they can afford. The AEI First-time Buyer Mortgage Risk index jumped 2.3% percent in February to a new record high.

First-time buyers can avoid greater risk by saving up enough to contribute a sizeable down payment and keep their debt-to-income ratio low. 

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