Adding to concerns of a new housing bubble, lenders reported an increase in demand for “non-traditional” and sub-prime mortgage loans and that they’ve responded to that demand by easing standards,
The increase in demand for non-traditional— generally “Alt-A”—loans and from sub-prime borrowers comes as sales of both new and existing-single family homes are generally rising and as both prices and mortgage rates are increasing. Read more: Closing Costs Rise 6% Over Last Year: The average closing cost across the United States rose over the year
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