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The problem with the liquidity crisis, primarily caused by irresponsible sub-prime mortgage lending, is that even people with excellent credit are facing tightened lending terms.

That's another way of saying that interest rates vary based on various events (domestically and around the world). In this case, the event affecting interest rates is the fear of the aftereffects of irresponsible subprime lending.

But there always have been and always will be events that affect interest rates (sometimes negatively and sometimes positively). And people of all credit ratings are always affected by those changes in interest rates. So, it may be characterized as less of a "problem" and more of "reality".
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