Your Quick Monday Mortgage Update

• Rates continue to stay low!
• The investor community, Wells, Citi, and B of A are all tightening criteria for FHA and VA loans, including raising minimum credit scores. This is most likely the result of changes the FHA is making, and keep in mind FHA has terminated 8 lenders this year.
• California Association of Realtors reports that entry-level housing affordability reached 64 percent in the 3rd quarter of 2009.