Housing Crisis to End in 2012 as Banks Loosen Credit Standards

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I always the say went, loose lips sink ships. Wasn’t it loose credit that started the build-up to the bubble? Yes I’m being sarcastic.

From DS News
Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago. Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes "the clearest sign yet of an improvement in mortgage credit conditions." » Read More

 

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