Not knowing the purchase process halts first-time homebuyers

Mortgage

The lack of knowledge around the home purchase process was cited by 39% of mortgage executives as the leading barrier keeping potential first-time buyers from entering the market.

That topped a lack of inventory (29%), excess student loan debt (27%) and rising interest rates (6%), according to a survey taken during the Mortgage Bankers Association’s National Secondary Market Conference by Genworth Mortgage Insurance.

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