Blogging Broker

Eventually things WILL turn around.  Who knows, we maybe we’re hitting bottom now?  It’s bizarre how interest rates dipped down to around 5.25% and so quickly rebounded.  Perhaps the banks were just testing to see where the market is.  I have to believe that at in the low 5% the banks were getting quite a bit of action.  Heck, at 5 %  I was thinking of refinancing!
Important to note that there is NO LACK OF MONEY TO LEND,  just as there is always more money looking for good deals than there are good deals to be had.   The money is there, and by historical measures its cheap, its just not as easy to get today because lenders are repricing the risks.

What does repricing the risk mean?

In layman’s terms it means the lenders are saying we will lend you the money if you show us:

You have a job

You have good credit

You have money for a down payment

Your debt to income ratio is in within guidelines

No one is making *NINJA loans these days!

*no income, no job, no assets