Preapproval Process News Today

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Rates rise i think that definitely has an impact on what buyers are willing to do, how far theyre willing to stretch on home purchase. >> reporter: rising rates will affect home buyers in pricier coastal cities where theyre more often right on the cusp of qualifying for a home mortgage. in chicago where realtors say theres more inventory it means locking in a good mortgage rate now. >> you dont want to pay more money if you dont have to. thats why we did decide to go through the preapproval proc...

On how many purchase. >> reporter: rising rates will affect home buyers in pricier coastal cities where theyre more often right on the cusp of qualifying for a home mortgage. in chicago, where realtors say locking in a good mortgage rate now. >> you dont want to pay more money if you dont have to pop thats kind of why we did decide to go through the preapproval process earlier so if we found something, we could jump on it. >> reporter: mary kate and her husband are first-time home buyers working...

Theres more inventory, it means locking in a good mortgage rate now. . >> you dont want to pay more money if you dont have to. thats why we did decide to go through the preapproval process earlier. that way if we did find something, we could jump on it. >> mary-kate ou and her husband on first-time home buyers. their lease is up in six months. and there are rising mortgage rates. >> we accelerated the timeline a little more recently. >> this is 950. >> reporter: her realtor said it is bringing u...

Texas, right? why do they think that? >> well, what the supreme court decision in june did was to remove texas from the preapproval process whenever we have any kind of changes in our voting laws. and thats not what the obama administration wants. they want to keep their thumb on the texas election system so they are now asking a court to give the obama administration the authority to be able to preapprove whatever election changes we may have, especially our voter id law that were trying to put...