First Time Homebuyers: 30 Percent of Existing Home Sales in March 2015

First-time homebuyers made up 30 percent of existing home sales in March 2015, at par with past months’ levels (29 percent in February 2015; 30 percent in March 2014) .

Recent measures to make mortgages more affordable and credit more available for first-time buyers (e.g., lower FHA mortgage insurance, 3 percent down payment GSE-backed loans, and relaxation and clarity regarding lender buyback of loans they originate) were reported to be helping homebuyers get back into the market.

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