John- Rates were even better than I thought. I do agree that we need the job growth to stimulate the economy. All parties, including lending institutions seem afraid of making commitments. I applaud those buyers with liquidity who are stepping up and making decisions because it is a great time to buy.

Jean P.- You are right. Lenders are requiring higher downpayments like in the old days, as well as impeccable credit. That's the reason many of the current buyers at those fortunate enough to have sold their home and so aquire the downpayment for the current purchase.

Jean G.- Apparently lending institutions may be over compensating for the excesses of the past and are making requirements so stringent that very few can qualify. Sitting on funds and not lending would seem to me to be helping to prolong the stagnation of the market. 

Dinah- The qualified buyers do need to jump on the bandwagon.

Jennifer, Gita,- I read a news item that the President is asking lending instutions to stop sitting o the funds and release them to the those seeking loans to help restart the economy.  

George- I think that is what many qualified buyers with cash are waiting for, an additional lowering of rates -trying to time the market - always risky. But I have always found your posts and comments intuitive and perhaps we need greater stimulation