Credit Tightening vs. Credit Crunch

Apparently even U.S. senators are having trouble getting mortgage credit at less than a 100-basis point premium. We need a new political mortgage market adage:

Credit tightening: When a senator’s constituents have trouble getting mortgages at less than a 100-basis-point premium

Credit crunch: When a senator can’t get a mortgage at less than a 100-basis-point premium

Related posts:

  1. Eye-Opening Stat on the Credit Crunch
  2. Lehman: Hair of the Credit Dog That Bit You
  3. FDIC Organizes LTCM-Style Meeting Over Subprime
  4. Jim Grant on Credit Markets
  5. Bear Stearns and Credit Markets

Comments

  1. Mike B says:

    Sanchez’s rant was ridiculous. I notice that she didn’t even end up asking Ben a question. I bet the reason she had a 100 basis point premium over what was in the paper was due to the fact she was trying to get a jumbo loan.
    Also, she is a rep not a senator.