Thursday, October 04, 2007

Mortgage Problems Continue To Hamper Pending Home Sales

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On October 2nd, the National Association of Realtors reported that pending sales of existing homes "will be dampened near-term as mortgage disruptions continue to impact the housing market..."

NAR senior economist Lawrence Yun said that a separate internal survey of NAR members revealed that more than 10 percent of sales contracts fell through at the last moment in August because of cancelled loan commitments.

Read more about it, and get the full story here.

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