The Fed just released a statement that says banks have made it harder for people to get home loans. 5% more banks are using a tighter policy when lending out loans. Demand for nearly all types of consumer and business loans continued to weaken over the last three months, with one exception. Demand for prime mortgages registered its first increase since the Fed began to track those loans separately in April 2007. That uptick in demand comes as mortgage rates dropped, helped by a concerted effort by the Fed to drive down rates to help revive the crippled housing industry. Rates on 30-year mortgages slid to 4.78 percent last week, trying a record low, according to figures compiled by mortgage giant Freddie Mac.
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