What does this latest round of failure and acquisition do to the mortgage market? We keep hearing the same refrain. Basically (to paraphrase), “Interest rates will likely get lower short term. But conversely credit will be even more difficult to obtain.”
To put a fine point on it, what does this mean to the average buyers with 20% to put down on a house? Or, can you describe a typical scenario right now? Something that has come across your desks?
Any and all input would be greatly appreciated.