Market Improving For Home Buyers: Bright Spots Show Up
, Home buybrs, take heart. Your chances to obtain financing are improving. .Sure, housing starts are down and interest rates are High and some downpayments required are large. r-But favorable changes are in the wind.</br></br>.1 Savings are begining to flow back to thrift institutions. However slight the shift, the tide has turned.</br></br>The economy seems destined for months of activity at recession levels. This should encourage the Federal Reserve to ease further and bring about the typical countercyclical recovery in home building.</br></br>If' you cannot wait for, these events to lower interest'costs and downpayment requirements, see your builder, mortgage banker, bank or savings and loan association about a loan under thel several ÛÏtandemÛ programs of the Government National Mortgage Association.</br></br>announced a new program to purhase 8*a per cent conventional mortgages up to $42,000, with downpayments as low as 5 per cent.