Ok - so we have determined that ActiveRainers are feeling that interest rates are going to remain around the same for the next year or so (hovering around the 6% - 7% range).
Any thoughts now on which way qualification requirements are going to go? We know the lenders are becoming more restrictive - but HOW restrictive will it get (and how long will the mega-restrictions last)? Will subprime ever make a comeback? Is there a place and demand in today's marketplace and economy for subprime? Is subprime simply irresponsible lending - or is it a legitimate new-ish product that has simply hit a snag? Will the government really intervene and flex it's lawmaking muscle?
I know a number of my broker and real estate agent clients are having a heck of a time getting their very eager applicants qualified -- how bad do you think it is going to get?
Thanks everyone for your thoughts on this!!!
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