Many odd thoughts on home loans
The glut of unsold homes continues to weigh heavily on the market and many in the real estate industry are hoping the new rates will spark some movement in the housing sector. It would be nice if all it took to boost the housing sector was low rates. In a post credit sector meltdown reality, however, banks and lending institutions have now instituted stricter standards. They are more risk averse and are not willing to lend as freely as they were just a few short years ago. In order to qualify for mortgage loans, applicants must now have higher credit scores and better credit reports than ever before.