The Washington Post

Mortgage rates fall to record lows again

A newly listed home for sale in Cincinnati. (Al Behrman/AP)

Despite these attractive rates, many would-be homebuyers aren’t taking action. High unemployment and tougher lending standards have made it difficult to make a major purchase.

And it’s not just new homebuyers that aren’t making a move in the current climate. As the Post’s Dina ElBoghdady recently reported, “Refinance activity has been constrained by tough lending standards, a weak job market and eroding home values — all of which have have kept millions of homeowners on the sideline. That leaves lenders chasing after a limited number of good credit quality borrowers who have enough equity in their homes to qualify for a new loan.”

Related stories:

Time to refinance--again?

Home prices rise in July

Sarah Halzack is The Washington Post's national retail reporter. She has previously covered the local job market and the business of talent and hiring. She has also served as a Web producer for business and economic news.

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