Lisa Mailhot | April 16, 2024
Buyers
With growing concerns about mortgage eligibility in today's real estate market, both buyers and sellers must navigate these challenges strategically. Let's explore practical tips tailored to each group to thrive in the dynamic landscape of Orange County's housing market.
In recent news, economic uncertainties have spurred doubts among 58% of Americans regarding their ability to secure a home loan, signaling a tightening of lending standards. This hesitancy is influenced by factors such as high levels of debt and increasing interest rates, which collectively impact the availability of mortgages and influence consumer borrowing patterns. Despite these challenges, strong job growth continues to drive household spending; however, borrowers must navigate risks associated with mounting credit card balances.
In a dynamic real estate market, proactive and informed strategies are essential for success. Whether you're looking to purchase your dream home or sell your property in Orange County, let's connect to navigate the process together and achieve your real estate goals.
Reference: Bloomberg. (April 9, 2024). 58% of Americans don't think they'd qualify for a mortgage. Retrieved from link
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