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“Some people might decide to buy a smaller house in a different area, but you won’t see a big decline based just on interest rates,” he says.

Competition has been missing from the market since 2008, Cecala says.

“What will be interesting is to see how far it will go,” he says. “It’s getting more flexible by the day, but it’s still not opening the door to what you’d expect.”

©2013 The Orange County Register (Santa Ana, Calif.)
Distributed by MCT Information Services

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