U.S. News & World Report - Although the ongoing real estate bust has created a painful environment for home sellers, plunging property values and low interest rates are handing would-be buyers plenty of opportunities. A National Association of Realtors index, which takes into account home prices, mortgage rates, and incomes, indicates that today’s real estate market is the most affordable it has been since at least 1970. But as banks tighten lending standards in the face of higher delinquencies, only borrowers who meet today’s stricter credit requirements will be able to nab the most attractive mortgage rates. …
