In 2008, the real estate market had a total meltdown, causing lending standards to be seriously tightened by banks. As a result, loans for residential, as well as commercial real estate, were hard to come by. However, in looking at the recent Consumer Credit Report and Senior Loan Officer Survey conducted by the Federal Reserve Bank, easing in current credit conditions is significant. This report also showed that over the past three months there was stronger demand, but also easier lending policies in place specific to commercial and industrial loans, as well as commercial real estate loans.
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