That seems like an odd move considerng all the recent articles about higher CC debt, 90+ day late Auto Loans, and Mortgage defaults.
I figured if anythig that they would tighten up a bit, no go the other way. Are they trying to make it easier for some people to get into more in debt? Because higher rates typically come with lower scores, thus costing people even more.
Until the cost of housing stops rising like it is, or decreases a bit. The cost is still exorbitant in some cases, especially with a lower down and higher rate. I don't think most people truly look at how much is being paid toward interest, they just look at what they're approved for. It's pretty sad that you'll wind up paying just as much or more in interest, as the price of the house over the course of 30 years.
Locally there's been a housing shortage for years, but no one seems to be building. (At least affrodable Housing that is.) My guess is because it's to keep the current housng prices high, whether buying or renting. And more recently they've been building high end Apartments and houses that almost no one in the area can afford. This isn't LA, but certain investment groups seem to think you charge whatever you want wherever you want.
