The souring economy is leaving people with less money to spend on housing. And tighter lending standards are counteracting the impact of lower interest rates, because not as many people can qualify for mortgages.
(Mike Blake/Reuters)
Lower mortgage rates alone won't revive the ailing real estate sector
The souring economy is leaving people with less money to spend on housing. And tighter lending standards are counteracting the impact of lower interest rates, because not as many people can qualify for mortgages.
(Mike Blake/Reuters)
Don't look for the Federal Reserve's rate cut to revive the housing market. Mortgage rates already sit near historic lows. But larger forces are aligned against a revival: Falling home prices, tighter lending standards, and rising unemployment all are limiting how many people can buy homes, and how much they can spend. (Full article: 701 words)
This article is available in our archives:
Globe Subscribers
FREE for subscribers
Subscribers to the Boston Globe get unlimited access to our archives.
Not a subscriber?
Non-Subscribers
Purchase an electronic copy of the full article. Learn More
- $4.95 1 article
- $9.95 4 articles
- $25.95 Monthly
