Are banks easing lending standards?

[Andrew]

I haven't noticed them easing lending standards much yet. They still want to be very sure you can repay the loan and that you have collateral in case you fail to make the payments. Banks are looking to profit first and foremost. They also want to put their money to work though.

[Derrick]

I haven't noticed them easing lending standards much yet. They still want to be very sure you can repay the loan and that you have collateral in case you fail to make the payments. Banks are looking to profit first and foremost. They also want to put their money to work though.

Me neither, but where I'm from the situation is not as bad as in other areas. For example it is probably the worst in california right now as far as qualifying for a loan. That's really what you need to look at is the location, in less effected areas of the recession you might have a better chance at getting a secured loan.

[felisterjack]

A brief look at how changes in rates and lending standards contributed to the current housing market climate. In listening to CNBC last night regarding the so-called "sub-prime mortgage meltdown", I started to think about how we got here and where are we going next.