The long awaited Qualified Mortgage Rules finally came in last week and while reading them I think I fell asleep 4 times because it really was a big snore. There was no dramatic or even interesting change to note, in reality the issued rules are simply summarizing what the market place (Excluding FHA) has already done. And what is that, pray tell?
We have seen much action in the 2012 housing market , some of it surprising and some not unexpected. However, the main trend that I have noted since 2010 remains true and I believe will stay true going into 2013.
Both Republicans and Democrats love the Bush Tax cuts like Augusto loved Willy Wonka's Chocolate river
http://www.youtube.com/watch?v=FdSORiSaRW8
98% of the Bush Tax cuts are being protected by a party that has always bad mouth the Bush Tax Cuts.
Imagine for a second that a U.S bank allows a home buyer to buy a home with these two main core lending standards:
1. A minimum 620 Fico score
2. A minimum 3.5% down payment
