In today’s 24-hour news world, we often forget things almost as soon as they are over. However, on Tuesday Federal Reserve Chairman Ben Bernanke reminded us about the subprime lending crash. It served as a reminder that even now, the problems precipitated by massive home mortgage defaults are still having an effect. Inman News reports on Bernanke’s comments:

"Tighter lending standards in the subprime mortgage market — together with the possibility that the well-publicized problems in this market may dissuade potentially eligible borrowers from applying — will serve to restrain housing demand, although the magnitude of these effects is difficult to quantify," Bernanke said.

Even though the subprime lending effects are felt mainly by those with poor credit, the events of the past three months may make even those with good credit pause. Remember, though, if you qualify for a reasonable home mortgage, and you are careful to make sure that you are not getting more house than you can afford, now may actually be an ideal time to buy.

Tags: Ben Bernanke, personal finance, financial planning, finances,
financial goals, home mortgage , subprime lending, Federal Reserve