Market Watch
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First-time homebuyers left out in the cold, data shows
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Tightening regulations on U.S. lenders has resulted in more selective lending practices in the residential housing market.
Because of the qualified mortgage/ability-to-repay rules taking effect earlier this year, lenders are now more liable for the loans they make than in the past.
New data shows that first-time homebuyers are perhaps the biggest demographic getting shut out because of the combination of new credit standards and rising home prices, Bloomberg reported.
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