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 May 26, 2008

Housing Slow Down Caused by Lenders?
Even though some areas are showing growth in the housing market, some experts are saying that the cause of a slow market and falling home prices, in other areas, is due to lenders. At this point, lenders require much more than they did a couple of years ago.
The trend seems to be going back to the seventies when lenders required more of a downpayment and credit scores that were higher, in order to obtain a low interest loan. In addition, they also have stricter appraisal guidelines and all appraisals must not exceed six months.

This has a lot of experts worried that the housing market crisis is far from being over. With high credit scores not impressing lenders like they used to and a new focus on housing trends, debt to ratios and even how long a home has been on the market, it appears we are not out of the woods yet.

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