Rates are Super Low

I really see the Austin Housing Market taking off again. The Rates we are seeing are super low and the opportunities are plentiful. It seems to be in the lower end of the market around 100K - 300K. I would atribute this to the $8000 tax credit for first time buyers. The people that can qualify are going to reap the rewards from these low interest rates and the great deals out there. What I would like to see is the lending guidelines loosen just a touch. It seems we have gone from one extreme to thhe other with banks. My prediction is the market will come back in full swing when that happens. Any thoughts on this?