Some of the hottest action at the International Builders' Show last week in Las Vegas was between lenders and home builders seeking financing to build.

The rates lenders were offering ranged from 12 percent to 15 percent with some banks and private equity funds asking as much as 20 percent.

A survey of builders by the National Association of Home Builders showed that 85 percent believe that access to financing has been getting progressively worse over the last 18 months. Home construction loans were down 51 percent in the third quarter of 2009 compared to the peak in 2006.

We're missing opportunities, says Michael Sivage, CEO of Sivage Homes in Albuquerque, N.M. In a normal market, we'd have bankers beating down the doors to get our business, but not today.

Source: Associated Press, Alex Veiga