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The Boston Globe

Business

Personal Finance

Realtors, bankers warn against a strict down-payment rule

WASHINGTON — Realtors and mortgage bankers say they’re hoping President Obama’s call for streamlining mortgage rules will lend new momentum to efforts to head off a strict minimum down payment for home loans.

‘‘Right now, overlapping regulations keep responsible young families from buying their first home,’’ Obama said in his State of the Union address. ‘‘What’s holding us back? Let’s streamline the process, and help our economy grow.’’

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