Some Homebuyers Lose Deposits of $10,000, $20,000 or More Due to High Mortgage Rates

NPR, Nov. 16, 2022–Chris Arnold
The John Burns Real Estate Consulting Group surveyed about 100 homebuilders about how they were handling earnest money deposits buyers are required to make. For customers who can no longer qualify for a loan because mortgage rates have increased, “the majority of the builders are willing to give a refund.” But not all builders.