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


  1. 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.