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Denver Post is reporting that rates are dropping.

Their graphic is somewhat puzzling because the online article never references subprime lending.

Subprime loans are for borrowers who have:

• LESS THAN PERFECT CREDIT
• BANKRUPTCIES, FORECLOSURES, LIENS, COLLECTIONS
• HIGH DEBT LOADS
• MINIMAL TO NO ASSETS i.e. SAVINGS, 401K, STOCKS, FUNDS, etc.
• HARD TO DOCUMENT INCOME

Subprime loans have:

• HIGHER RATES
• STRICT PENALTIES TO PREVENT YOU FROM SELLING OR REFINANCING
• INTEREST ONLY AND 40, 45, OR 50 YEAR AMORTIZATIONS AVAILABLE
• LENIENT UNDERWRITING

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