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And that stock.
Down payment could be in the offing for first time home buyers.
Saw the housing market is showing some promise in building it'll land is still -- all.
We've gone through the biggest financial crisis since the Great Depression.
And history shows that prices like that leave lasting scars.
You know you it's like the flu he feel like I'm already I'm ready to go back to work and then weeks later in our -- off you know quite right.
Another excellent interview with Connell last hour David what it is -- a -- -- -- partner mortgage backed solutions and I wanna get your.
David your take on this because you know look at mean that -- makes good points here about the concern out there that it's up and down -- up and down.
Now discussion about 10% -- payments for the first timers.
This could really hurt a lot of the the positive and he -- had.
That -- so -- Cheryl and what we're looking at his retirement the FHA program.
What do they have to do to make for a solid first time home buyer program have done about FHA lending.
FHA lending was designed to help the first time home buyer but you look at the FHA insurance by -- And that that is just know it's it's OK and it's literally just okay.
They had to replenish that fund already and they're looking at what are we have to do is -- 10% down payment is it.
Increasing fight -- scores to the point the credit score that we use in underwriting loans.
Or is that the debt to income ratio they're looking at all these things but the reality is all those adjustments they may.
Our good impact the first time home buyer and -- so well we really while back in this market.
That's sort of -- same David and if you look at the data and I -- you have a over the past six months have been secular.
So you're saying finally that move above the kids if you will be only twenty somethings moving -- other parents' home in buying taking advantage.
At the same time -- you know you have to say that the banks Disney be loosening up just a little.
Bet they do seem already to lend as we've seen frankly the market the stock market.
In pru wouldn't that kind of balance out this 10% issue.
Well we definitely need the banks.
-- and loosening up they overreacted and now they're coming back with some reasonable this again and opening up credit that is true -- but if you look at this.
-- the CF -- Consumer Financial Protection Bureau the CF PB just told announced.
A new qualified mortgage rule that new qualified mortgage -- defines what we can -- -- it's a narrower definition the -- we've had before.
While it is it it's include all Fannie Mae Freddie Mac FHA lending.
It really isn't allowing some of the broader programs that we -- to see in previous cycles come back in a way that.
Probably going to be needed to bring the -- pool of liquidity to finance all those new -- want.
Positive that could be happening -- they don't really have the number of the date is yet.
But it looks like inventories are hitting lows because all of us for close -- getting cleaned out cash investors a comment but their properties walked away.
Doesn't that tell you that prices and sales numbers will trend higher.
This year with.
Rates at three point you 25%.
Which is what I had a guest -- last week -- that's for pretty much.
Yeah well there's no question that -- these lower interest rates are spurning.
And did -- did this go buy a home now for -- violence by now before interest rates go up there is a consensus out there.
That as soon as we start seeing solid economic numbers -- -- we are going to see interest rates go back up.
It's not gonna go up jump up spike up a lot I don't think the Fed's gonna let that happen will -- -- -- good economic killer.
All the way around but I think you're gonna see share -- that interest rates could come apple did so this -- the time for people to get out their credit is available there is some product.
And that lets just hope that they don't mess -- up by messing with some these lending program.
Washington does have a habit of messing a lot of things up David -- help the script how they didn't give -- like a mortgage backed solutions David good to have you as always thanks David.
Good to be with the -- thank you.
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