Keating Talks Housing Market on Fox Business
It’s
harder for younger Americans to get mortgages, ABA President and CEO Frank
Keating told host Maria Bartiromo yesterday on Fox Business’ “Opening Bell”
program.
“I bought my first house when I was 27,” Keating said. “Now our estimates are
that the average young person today will be 37 or even 40 the first time they
have an opportunity to buy a home.” He attributed this to high prices as a
percentage of income, a soft job market and heavy student loan debt.
Regulatory burden is also inhibiting the market, Keating explained. “We also
face 4,000 pages of existing mortgage rules, 2,000 more pages of mortgage rules
going forward in 2015,” he explained. “It’s not a friendly market."
--ABA Daily Newsbytes
St Casimirs Mortgage Minute. . . Help in navigating the mortgage application process. Get advice from Nelson Bayne, 410-342-1404 mortgage specialist with over 35 years of experience in the Baltimore metro area.
No comments:
Post a Comment