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Low mortgage rates help home buyers as prices rise — if they can qualify

Average 30-year fixed mortgage rates have reached new lows during the pandemic, but lenders are tightening credit requirements because of economic uncertainty.

Low mortgage rates are spurring people to buy houses, but inventory is tight. Qualifying for a mortgage has gotten a bit more difficult, too. A sign advertises a house for sale in Ridley Park, Delaware County.
Low mortgage rates are spurring people to buy houses, but inventory is tight. Qualifying for a mortgage has gotten a bit more difficult, too. A sign advertises a house for sale in Ridley Park, Delaware County.Read moreCHARLES FOX / Staff Photographer