There has been a good deal of scuttlebutt regarding a possible "credit crunch" being on its way. It is way to soon to say that is happening, but with several sub-prime lenders facing financial trouble, many lenders are tightening their requirements for mortgages. At this point, much of the focus is on the stated income segment of the market. We'll see if it stays there. Should credit standards be materially tightened, we are likely to see the impact first in the lower end of the market.

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