Janet Yellen: tough mortgage market forces couples to put marriage on hold
by Rupert Neate in New York from on (#BM0B)
Young couples need 'pristine' credit scores as US home ownership rates hits lowest level since 1989 but Fed remains committed to raising interest rates this year
Young couples are delaying getting married because they are finding it so hard to get a mortgage to buy their first home, Janet Yellen, the chair of the Federal Reserve, warned on Wednesday as she once more signaled a historic rise in interest rates later this year.
Yellen said people were finding it so hard to secure credit from banks that "people [are] delaying marriage [because they] can't get mortgages as easily". She said that it is still too difficult for people to get a mortgage unless they have "pristine" credit scores.
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