Looking for a home to buy? Perhaps it’s time to start knocking on doors to see who’s willing to budge. In my 37 years in this industry, I’ve seen this play out before. High mortgage rates and declining cash reserves have homebuyers, equity borrowers and industry brokers struggling to land a deal. Faster than you can say “forget it,” bankers are turning down many self-employed borrowers for home equity lines of credit. Why? It’s largely due to applicants’ declining income over the past year. SEE MORE: Would new bank rules shut out first-time homebuyers? The U.S. personal savings rate, according to the Bureau of Economy Analysis, is 4.6%, nearly half its long-term average. Household debt also
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