As prices rise and inventory remains low, first-time home buyers are suffering

Approximately 96 percent of first-time home buyers use a mortgage to finance their house. That makes the share of first-timers in the market closely connected with increases and decreases in mortgage rates. That's part of the reason why when mortgage rates rose in late 2016, the share of first-time home buyers dropped and is expected to stay below average for this spring, said Jonathan Smoke, chief economist for realtor.com. "Dallas has been tracking a little bit lower than the rest of the country,…

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