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HOW TIGHTER MORTGAGE STANDARDS ARE HOLDING BACK THE RECOVERY


Source: The Wall Street Journal

Average credit scores for borrowers in the month of June were nearly 50 points above their pre-housing bubble levels, which is a sign of the tighter credit standards impacting the housing recovery. A new report argues that returning credit scores to pre-bubble levels would boost home sales by around 450,000 units and new single-family home construction by around 275,000 units.

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