The latest information from Keeping Current Matters (my favorite source for real estate information), should be of interest to both buyers and sellers . Here is a summary of their most recent report and concerns for the housing market and I could not agree more.

• It seems that our Federal Government is attempting to set limits as to what defines a "quality residential mortgage" (QRM) and while we may need lending reforms, it seems that many lenders and organizations that are involved with the real estate industry have concerns about how this will affect the housing recovery. Jack and I have these same concerns as we feel these guidelines harm creditworthy buyers and the housing recovery itself.

• The Government is in the process of making home ownership more expensive or out of reach for millions of people through higher downpayments and equity requirements. They are proposing that we move from a 5% to 10% downpayment on some loans and even to 20% on others. Even where loans have strict underwriting regulations in place.


• Based on 2009 income and price data it would take 9 years to save $10,000 and 14 years to save $20,000.


• A buyer could seek a non-qualified loan but this would require a higher interst rate and even a 1% increase in interest rates would cause over $4 million people to not qualify for the median home price ( according to the

National Association of Home Builders . )

These Governement proposals harm buyers wanting to buy a home and does not offer any help for homes that are defaulting.

Considering the changes that could occur to the mortgage market, this could be the best time to buy after all.