Morning Minute: Return of the first-time homebuyer

Changing economic conditions could be the catalyst that prompts more first-time homebuyers to take a look at the housing market, according to a new report, “The Return of the First-Time Buyer” from the financial services company Barclays, HousingWire reports.

In the report, Barclays analyst Steven Kim points to three reasons why first-time buyers might decide that now is the time to buy: Job growth is improving, credit is more accessible to new buyers and homes are still affordable. One of the biggest hurdles for first-time buyers, however, is student debt load, according to Kim’s research. Read more from HousingWire.

In Illinois, first-time homebuyers might find the path to homeownership a little easier with the new Welcome Home Illinois loan program. First-time buyers can qualify for $7,500 down payment assistance and a below-market interest rate on their mortgage. Learn more at Welcome Home Illinois.

In other headlines:

Jobless rate falls to 6.3% as economy adds 288,000 jobs in April – Chicago Tribune

Americans ready to spend money…especially on housing – HousingWire

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