Over the last few years as housing prices were getting higher and higher, banks became more willing to supply home loans to people, even those with bad credit. The thinking was that the equity in the home would compensate for the risk involved. It looked as if home prices would keep on increasing, so the banks just kept lending money and making their commissions on the loans they had made. As real estate turned more and more lucrative, builders kept on building more and more houses. Reasons that are not so good to rent are:
Whatever happens to the homes value, you will never gain equity.
You are not able to make the place what you want it to be, because you will never own it.
If there are any tax advantages to renting, your landlord would be the one to profit from them, not you.

People began to default on their loans, and their homes went into foreclosure, where they were taken back by the bank who gave out the mortgage. This led to more and more houses being put on the market, which made prices go lower, which led to a vicious cycle that we are all still feeling the effects of today.There are a lot of economists who preach that the recent mortgage disaster has confirmed to be an advantage to novel bargain hunter. More and more patrons are being clever to apply for low-interest mortgage loans, due to the drop in real-estate values. To make out further about the present mortgage rates and mortgage loans you can visit an online mortgage forum.