Credit Market Squeeze: Is It Actually Better for Your Personal Finances?

Right now, economists and others are worrying about the continuing credit market squeeze. Indeed, they are very worried about the fact that lenders continue to tighten their standards for mortgages and consumer loans. The Federal Reserve says that domestic banks are making it harder for people to get all sorts of loans.
The result? Less access to credit will result in lower rates of consumer spending. MarketWatch reports regarding the credit market squeeze:

“This is consistent with our view that consumer spending will slow markedly over the next several quarters,” wrote economists for Lehman Bros.”

“The impending tightening may ultimately …read more