We’re a few years into the housing market crisis and everything seems a mess. As usual where there is a crisis there can be chaos. The housing and mortgaging industry currently has many confusing trends occurring. Sorting it all out can be confusing for a homeowner seeking remortgage or a first time buyer looking for answers.

Home values fell after at the height of the housing boom it crashed to the ground. Values fell initially in the housing downfall and reports this past week showed that home values were on a slight rise for this year. They are expected to continue to rise next year but at a slower rate. Yet with the loss in value and the very slight gain, many analysts say homes are still over valued.

Though the number of new buyer approved mortgages has dropped, banks are tightening the lending qualifications making it very difficult to buy a new home. Especially if sellers are over valuing their homes and borrowers are being required to put up 25-30 per cent deposit.

Homeowners seeking a remortgage to take advantage of lower rates find out their current mortgage is "under water". Due to value drops the owner finds out their loan is for more debt than the value of the property.

Talks about raising the base rate goes back and forth and economists conflict in their opinions as to when it will change and in what direction.

Despite all of the reports, and in economic crisis it is difficult to get all economists to agree, there is good news for borrowers. There are great rates available for a mortgage or remortgage. Lenders are being strict, but loans are bing approved, even for those with credit problems. If you are looking to remortgage then the key is to contact a broker or lender and review the details of your current mortgage, the value of your home, review your credit history, and review all remortgage options. Even in a financial crisis, if one looks hard enough they can find some good news. Those looking to remortgage, even with bad credit, to obtain cash, debt consolidation or lower rates will likely find an option that fits them nicely.