CNC Mortgage Blog

The entire world is going through economic upheaval these days. Wall Street sold mortgage backed securities through out the world and some of the loans have not performed as well as they should have. The fundamental problem is that housing values not only did not increase, they have dropped.

The people who are in good financial shape today are first time homebuyers or people who have sold their home and want to replace it. For those people there are very good buying opportunities at great rates even if they only have 3% or 5% to put down.

We still have many banks that want to lend money, they are being more careful and strict on their conditions, but they do want to lend.