Finally some good news out of the banks we all bailed out. Maybe they will make money a little more accessable for home buyers so we can move more housing inventory.
After three years of Scrooge-like underwriting following 2008's financial crisis, banks have turned on the spigot, boosting lending at annual rates as high as 8.2% since July, according to Federal Reserve statistics. Among the reasons: The economy is improving, while smaller banks have positioned themselves to pick up slack left as bigger banks remain cautious, says Stuart Hoffman, chief economist at Pittsburgh-based PNC Financial. The most bullish part of the upturn is that it occurred when banks knew the Fed was preparing for last week's preliminary announcement of tougher new capital standards, he says.
Also check out "Denver Housing Inventory Sinks."
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