High Mortgage Rates / Easy Credit

easy-credit-large1No question that 6 years ago underwriting standards in America for home loans were so weak that its was only a matter of time before housing collapsed. Conversely, they have tighten so far now that an average American is lucky to even get an approval.

This has got to stop. We need to get back to a more reasonable standard that takes into account a borrowers complete financial picture and not only some few data points that some bean counter established. Housing has got to get healthy again and reasonable, available credit is the fuel in the tank that can make this happen.

Original Article for Reference:

Higher mortgage rates may mean easier credit

Published: Monday, 5 Aug 2013 | 12:42 PM ET
By:  | CNBC Real Estate Reporter
Mortgages
30 yr fixed 4.52% 3.63%
30 yr fixed jumbo 4.68% 3.64%
15 yr fixed 3.49% 3.01%
15 yr fixed jumbo 3.99% 3.31%
5/1 ARM 3.42% 2.77%
5/1 jumbo ARM 3.13% 2.69%

 

Email this to someoneTweet about this on TwitterShare on FacebookPin on PinterestShare on Google+Share on LinkedInDigg thisShare on RedditShare on StumbleUponShare on Tumblr