Posted: 05 Feb 2013 07:36 AM PST
The pendulum of credit standards has gone from the "Liar’s Loans" of 2006 where anyone could get a loan at any price as long as they were willing to fib, to standards over the past couple years where you had to have a perfect credit rating and offer your first born as collateral before the lending committee would even consider your application.
But now it looks like we may be finding a more reasonable marketplace for home loans. With an increase in demand, housing prices rising, and inventory coming down, lenders are feeling a little more confident.
If we can keep the low rates and have accessible mortgages for slightly less than prime lenders, we may see a nice year in 2013 for home sales.
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