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housing

An all-time record for home affordability was established in 2012, the National Association of Realtors (NAR) reports. More average-income families than ever could afford to buy a typical home last year, explains NAR. Great mortgage rates and terrific home prices create ideal conditions for purchasing real estate. “A window of opportunity remains open for buyers,”…

Federal regulators proposed on Wednesday a new rule that would make mortgage lending standards less restrictive. The proposed new Qualified Residential Mortgage rule, released jointly by six government agencies, was cheered by both consumer advocates and mortgage industry members–who typically don’t see eye-to-eye on much–largely because it eliminates much stricter down payment rules that the…

The U.S. economy grew at a 2.5 percent annual rate in the second quarter, faster than initially estimated, as American companies exported more and consumers bought fewer imports than the government had calculated last month. The number was revised up from the government’s initial announcement that the economy had grown at a 1.7 percent annual…