Wednesday, October 03, 2007
Home Buying Conditions Better Than the News Media Say
As consumer confidence in housing has weakened under a barrage of negative media coverage sensationalizing the current mortgage credit crunch, NAHB has been stepping up its efforts to inform the public of the positive opportunities for buying a new home.
"There are some serious problems in today's mortgage market and the availability of financing is not what it should be," according to an NAHB op-ed piece that association members can find in the online "Back to Basics" Toolkit, along with two similar buy-now messages that are being used by the executive officers.
However, the editorial points out, the conventional, conforming loans that are the mainstay of the mortgage market have remained largely unaffected by the shakeout in lending to subprime borrowers and recent tightening of terms for jumbo loans. These loans are limited to $417,000 and conform to other standards that enable the lender to sell them to Fannie Mae and Fre...
| Posted by Summer at 2:02 PM |
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