• Mortgages are pretty straight-forward.  Not many options, so choices are simpler.  You have 30-year fixed, 15-year fixed, a few ARMs (adjustable rate mortgages) and occasionally another option.  But, the exotic loans of a few years ago are a thing of the past, so less confusion!
• Interest Rates are still VERY Low!  How long will they last?  I certainly don’t know.
• The new Good Faith Estimate guidelines (mostly) protect consumers.  But, the fact is they will protect the consumer from sleasy loan officers.  All fees are disclosed upfront and that amount must stay the same or you will be given up to 7 days to think about it!
• Tax Credit has been extended and EXPANDED!  The tax credit for first time home buyers has been extended till April 30th and the repeat home buyer tax credit  has implemented. 

Change is hard, but the new direction will be good news to the mortgage industry and the consumer!  Appraisers are under a lot of scrutiny, underwriting is a nightmare and if you get a loan you feel like you just got “vetted” for public office!  But, all this new direction in the mortgage and housing industry will ultimately make for a saner housing market…..someday!!!!!