An Inman News article today quoted Damien Weldon, vice-president of collateral and prepayment analytics at LoanPerformance in San Francisco as saying "There is no credit crisis in mortgages for the average borrower." The key is the "average borrower". The subprime market are below average borrowers... so if you have good credit, a decent income, and 10% down or more, you're going to get just about any mortgage you want.
The article also references a research report from the Wharton School as saying that 30 year fixed rate mortgaged survived the "so-called mortgage meltdown"... in fact fixed rate mortgages have risen 30% during the past 12 months.
Inman News is a subscription service so this article is likely to be locked if you don't read it today... but here's the link if you do get to this post in time.
By the way, if you are thinking of Buying sometime soon, and need a loan, it's best to start now BEFORE you find your dream home. Step #1 is to buy the book "Mortgage Rip Offs and Money Savers" that I reviewed in an earlier post and can be found on the left side of this site. Step #2 is to get all three of your current Credit Reports and scores... see the myFico ad on your left. Step #3 is to follow the advice in the Mortgage Rip Off book by getting pre-qualified with 3 lenders, than choosing the one with the best rates and fees who you trust the most and get "pre-approved".
And at any time during this first state, call me to discuss your wants and needs in a home, and start searching for properties online at www.SF-MLS-Search.com