Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Sherman Oaks and other L.A. areas too. General news and musings as well.
Sunday, September 30, 2012
Article from the LA Times: Interest rates are low, but it is still hard to get a mortgage
Lenders' underwriting standards appear to be tightening even further in some
key areas, and the time to close a loan is getting longer.
Oh, great, right? Even our company's owner mentioned this recently as he is trying to buy a new home. My take: there are lots of moving parts with mortgage lending, and the industry is still scared of a repeat of 2007-2008. Which is probably exactly what they'll have unless they keep standards pretty tight.