Summary of the Article
Remember, you cannot rely on a bank to determine how much home you can afford. Despite the tightening of lending standards since 2008, mortgage …[otw_is sidebar=otw-sidebar-1]
Low interest rates and a stronger job market continue to fuel growth in housing. While the number of national home sales declined slightly in 2014 (3 percent) to 4.93 million, home prices have continued to rise. In fact, according to the National Association of Realtors, the national median existing home price was up 5.8 percent in 2014 to $208,500, the highest level since 2007 ($219,000).