Summary
Mortgage interest rates of 4.57 percent -- the lowest in 70 years -- may attract Pittsburgh area residents to buy a home. But some are turned away because of stricter mortgage rules.
"Although the rate is encouraging people to buy, many are unable to obtain a mortgage because of low credit scores or because of other mortgage restrictions," said Cyndi Saxe Smith, broker at Keller Williams Real Estate in the South Hills.See the full content of this document
Extract
Mortgage Rates Only Part of Deal
Other real estate agents complain that appraisals often derail a deal because appraisers are using as comparables lower prices paid for foreclosed houses, instead of the mark...
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