Robert McLister·Mortgage Industry Reports·July 6, 2010More Buyers Get Pre-Approved 91% of first-time home buyers are getting pre-approved, according to TD Canada Trust’s 2010 Home Buyers Report. That’s a big improvement from the 62% pre-approval rate reported in a similar 2007 BMO study. Today’s home buyers seem to be more educated on the benefits of pre-approvals. They’re also more concerned that rising rates will put them at risk without a rate hold. ____________________________________________________ Sidebar: Here are a few other notable points from TD’s report: 70% of first-time home buyers put, or plan to put, less than 20% down. “Six-in-ten are worried about being able to afford their home if interest rates rise.” Almost three-quarters of home buyers surveyed “have or plan to have a fixed-rate mortgage.” Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.