First-time buyers load up on mortgage debt after change in lending rules

First-time homebuyers are increasingly taking on significant mortgage debt following a change in lending rules that made high loan-to-income products more accessible. This shift has led to a surge in mortgage applications as potential buyers take advantage of the new terms, which could have broader implications for housing market stability and economic growth. The loosening of these rules has sparked debate about the potential risks of increased financial vulnerability for new homeowners. For a deeper dive into the specifics and broader economic impact, check out the full article linked here.