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President Obama Explains How FHA's 3%-Down Mortgages Are Great For America - Live Feed
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As we noted previously...
When we commented on Mel Watt's Einsteinianly-insane plans to reform FHFA, allowing bad creditors to buy houses (again) with only 3% down-payments (again), we expected nothing but echoes as the "it's everyone's 'right' to own a home"-meme gets played out for all to see in this goldfish-like societal memory that has entirely lobotomized the actions (and impact) of when this idiocy was trued before. However, a funny thing happened this week... called an 'election'. And The Republicans have been quick to take note of Obama-appointee Mel Watt's (replacing acting director Ed Demarco - who had some less-politik plans for real reform) plans with House Financial Services Committee Chairman Jeb Hensarling exclaiming he was "extremely concerned," about Watt's "efforts to force taxpayers to back high-risk mortgages with ultra-low down payments," concluding this plan "must be rejected."
Excerpts from Mel Watt's remarks...
Demand in today’s market is also limited by former homeowners who found themselves unable to keep up with their mortgage payments during the financial crisis, including many who lost their jobs during the recession or faced reductions in their income. Many of these individuals not only lost their homes, but also seriously damaged their credit. Many filed for bankruptcy. Although some of them may be back on their feet in terms of income, their impaired credit records constrain their ability to return to homeownership.
A less quantifiable factor on demand is the psychological impact of the housing crisis across the country. Many people watched their friends or loved ones lose their homes or suffer financial hardship in the housing crisis, and this has deterred them from entering the homeownership market.
Bottom line, there is no lack of rational explanations for why demand for homeownership is down, and these explanations will continue to change and evolve in the months and years ahead. While things will not change overnight, it is my hope that many creditworthy individuals and families who are currently renters – but have the ability to pay a mortgage and become homeowners – will have the opportunity to pursue homeownership and will decide to do so.
A shift in this direction will not only be beneficial for our economy and overall housing market, but homeownership and paying down a mortgage remains a way that many individuals and families can save and build and retain wealth over time
...
the fact that home prices are still low in many locations, and the fact that interest rates are low, now is a great time for realtors to be actively encouraging their customers who can afford it to become homeowners.
I also announced recently that the Enterprises are working to develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97 percent. As I said earlier, there are creditworthy borrowers in today’s market who have the income to afford monthly mortgage payments but do not have the money to make a large down payment and pay closing costs. Purchase guidelines that allow for 3 percent down payments will provide an opportunity for access to credit for some of these borrowers.
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WATTF!?
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And here is Hensarling's terse response...
House Financial Services Committee Chairman Jeb Hensarling Friday criticized Federal Housing Finance Agency Director Mel Watt for supporting a plan that alters some housing finance industry lending standards.
In a speech Friday, Watt said Fannie Mae and Freddie Mac will seek to back loans with down payments as low as 3%.
"I am extremely concerned about Director Watt's efforts to force taxpayers to back high-risk mortgages with ultra-low down payments as little as 3%," Hensarling said in a statement.
"Such loans are inherently risky because the borrower has almost no financial cushion against a personal or economic downturn, vastly increasing the likelihood they will walk away from the loan once it gets significantly underwater," he added.
Hensarling continued to assail Fannie Mae and Freddie Mac as poorly functioning relics of an earlier age in mortgage finance.
"Since their spectacular collapse in 2008, Fannie Mae and Freddie Mac have continued to exist only through the massive financial support of taxpayers and a strict focus on sound underwriting. To abandon that focus now is an invitation by government for industry to return slipshod and dangerous practices that caused the mortgage meltdown in the first place and wrecked our economy," he said.
Hensarling said the chief statutory obligation of the FHFA is to ensure the safety and soundness of the Fannie Mae and Freddie Mac.
"Clearly, this initiative is directly contrary to that mission, and must be rejected," Hensarling said.
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Meanwhile, for all of 2014, Greater Las Vegas Association of Realtors reported that 36,550 total properties were sold through its MLS. Lynam noted that was the lowest number of sales in at least six years, down from 47,685 sales in 2009; 44,045 in 2010; 48,798 in 2011; 45,698 in 2012; and 41,477 in 2013
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Welcome to the new old normal 'Murica... buy those homes... lever up... spend the HELOC... die a debt serf...
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...He can't even spell FHA....
Anybody but me notice the goobermint's mafioso tactics?
Close down a business because it's too risky and hurts people (cheap shitty mortgages, re Angelo Mozilla) and then once there's no private sector competition, take over the business?
Huh?
Am I the only one sees this as nothing more than the goobermint trying to Control Everything?
Just think off all the unqualified minority "folks" manning the paperwork barricades to protect people from themselves.
Fucking great.
Just great.
Game over man, GAME OVER!!!
"OMFG he's got his sleeves rolled up again! He's so down-to-earth and dreamy!"
What a fucknozzle this guy is.
You know what? Heck yes!! Why not??? If we, the taxpayer can backstop Fraud Street derivatives, why the f**k not? I don't give a shit anymore.
Actually, I don't either. I am just waiting for my chance to seize power. The sooner this falls apart, the sooner I usher in the golden age.
Kind of ironic that this spindly, awkward, dislocated-looking dipshit Obama will in the end have social and economic dislocation as the core of his legacy.
The guy is dislocation incarnate.
If 3% down is good, 0% down is better.
Just have taxpayers back $0 down, $0 payments for first 120 months,
0 % interest, 50 year mortgages for all homebuyers.
This shit is E-Z, bitchez.
I think the Pres. should sign an Executive order making it mandatory that everyone gets a home with 0% down and monthly payments that go to the new home "owner" instead of the lender. This way not only can some folks get a house free but they can get a monthly stipend to spend any way they want.
Do I need to say "sarc. on" to avoid some idiot thinking "hey this steffens must be an idiot"??
I'm sure glad Blackstone has stepped in to keep those house prices so low and affordable.
Obozo and the banks want debt slaves. They WANT you enslaved to any kind of debt payment for the rest of your adult life. A mortgage payment fits the bill. They print up fiatscos out of thin air, then "lend" it to you at interest. Then you spend the rest of your life paying off absolutely nothing. Amazing.
Elbow deep in someone's ass
The smartest man in the room strikes again. Gotta have a neighborhood to burn down....
HENSARLING IS RAYCISSSS!
Ah, but if da gubmint runs the business:
1) MOAR jobz!!!1!1!
2) MOAR public sector union-protected jobz!!!
3) MOAR Democrat voters!!1!!
4) Total control!!!!
The end game of this will be a massive hoard of gubmint workers sucking up the tax dollahs of the one remaining productive worker, who will commit suicide after burning down his business and destroying all of his own property so da gubmint leeches can't have it. We can then replace the 50 stars on our flag with Wyatt's Torch.
Go long the Rio Norte Line.
We notice..but has Rick Santelli noticed?
The circle is complete.. different crop of deadbeats, different crop of .gov subsidies.... as the churn turns...
remember Student Loans ? complete takeover of the industry about 4 years ago, and look at the exponential rise in young adult student debts.
EPA taking over coal fired power plants - then Oblamo puts people like him in permanent positions to run the now Fed owned industries.
HUD has had 3.5% down mortgages for years. Expansion to FNMA and FHLMC is risky becuase they have no capital! every quarter, Treasury takes as a divident all profits.
Take a look at the Balance Sheet of Fannie or Freddie - $3.2 TRILLION of Liabilities covered by $6.2 Billion of equity. Debt to Equity ratio of 516 X (with a giant X multiple)
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=1028...
Yeah Knuks and we can't even sled in the snow anymore. I guess I should be thankful with this drought our seasonal creek is dry. Of course I'm sure the government can find a way to fine me for the potential of some kid drowning in the future. Who knows, maybe some unfortunate nitwit could face plant in the sand out there and asphyxiate himself. Truly an attractive nuisance for idiots that need gov protection.
Miffed
XOXOXO
And then we gots GovMoonBeam and his railroad to a high-speed nowhere*.
No sleds but plenty of waste.
What have we become?
* OK next step in the railroad idiocy .... I'm getting a very subtle hint that they're going to add numerous additional stations along the inland route (All aboard, Fresno to Tulare with intermediate stops at Fowler, Selma, Kingsburg, Traver and Visalia.) How the f* is it gonna be "high speed" with London Underground distance stops fop all intents and purposes? Ah, the Hand of Brack reaching out to the peasantry of California. And associated construction companies.
Why I came back to this state is beyond me. I must have some synaptic function problem or fell on my head as a kid one too many times. Yup, Tulare as a stop makes plenty of sense. I'm sure there is no end of people who wish to stare at nothing and smell cow shit from the feed lots. Progressives and math are two things that never seem to intersect.
Miffed
.... the liar in chief fudgepacker repeatedly shows it is dumber than a box of cat turds.... between it and botox face pelosi, it is a faast foot race for the nation's most ignorant political "leader"... and beet faced bonehead boner ain't far behind either.
the biggest problem in america is we have too many people with 0 skin in the game. Too many sub prime borrowers get house with 0 down and dont give a shit about the house or payments. Too many peoople not paying anything in taxes so they vote for more free shit. If we would demand that every cisitzen over 18 pay a minimum of $100 and file a 1040 then I guarantee things would change. pass a drug test, have high school diploma, and pay minimum $100 in taxes to be eligible for anything. I guess I am dreaming
ONe of the lessons of history... is that we don't learn the lessons of history!
That clown again?
The other intrepid socialist leader...
Haha. Obama has cut the deficit by two thirds people? What else do you want from him?
http://www.usgovernmentspending.com/federal_deficit_chart.html
It's all a big joke. Idiocracy is already here.
$483 billion deficit in FY2014? And yet somehow, Federal debt increased by over a trillion dollars last year. Hmmm.
Reminds me of the same budget shenanigans that Clinton pulled.
"The deficit has gone down by two thirds"
Don't ya just love Common Core maff?
Why are all the "folks" standing behind the TOTUS all not people of color? Doesn't the TOTUS know that #BlackLivesMatter?!
Gah, I can't watch any more of this shit. Obammy's voice is like a needle being jackhammered into my gray matter.
Waa??? Amazing the "deficit" has gone down 2/3rd since he became President, yet our debt has nearly doubled.
Sounds like a broken budget. That, or magic accounting.
Fuzzy maff.
#bringbackmybrain
No problem.
"Why
put a time constraint on a "war effort"?
For example " three years to defeat ISIS."
The language is one of "forever" as these matters never end.
saying he rents and has 2 years left on his lease and wants the deposit back is actually funny
and no matter what he does, will not be evicted
We could have elected Don Lapre or Kevin Trudeau and gotten the same quality garbage as the Salesman-in-Chief spews.
I was thinking more along the lines of true diversity and inclusiveness, like David Duke who since his old Grant Wizard of the KKK days has since reformed and is now a "liberal" in the Louisiana State Senate.
Yup, same sheet...
"We plummeted'd some folks"
We overleveraged some folks?
We overextended some folks?
We placed some folks in some houses the mortgages for which they had no possible hope (or change for) of repaying?
We groundhoged some folks?
If I had ever been here before
I would probably know just what to do
Don't you?
If I had ever been here before on another time around the wheel
I would probably know just how to deal
With all of you
And I feel
Like I've been here before
Feel
Like I've been here before
And you know it makes me wonder
What's going on under the ground, hmmm
Do you know? Don't you wonder?
What's going on down under you
We have all been here before, we have all been here before
We have all been here before, we have all been here before
We have all been here before, we have all been here before
CSNY circa 1972
10 things the media won’t be talking about after the Paris terror attack
WTF News put the Charlie Hebdo ISIS cartoon in the site header… Because…
And for my next trick, I shall increase the appraisal value while robosigning this stack of title transfers....
Aha. So which one of the white "folks" behind Obammy is Linda Green? I bet it's the empty-gazed gap-toothed blonde on his left.
"Lowering the bar, even DeVry Graduates can afford a hoam these days."
"Afford" being the operative word. 40 years of indentured assitude.
Hey, hey at least devry graduates have a real skill and less debt unlike college graduates.
Skill is irrespective of tech school education, don't forget that. I know hundreds of goons from my own dear university who aren't worth the goat they slaughtered to write his credentials on.
the average college freshman reads at the 7th-grade level.
Home ownership is a good thing for America. Just look at the cities where rental properties make up a majority of the market. Ugly.
The problem isn't the down payment, or the lending standards. The problem is the Fed and central planning. There aren't enough decent paying jobs for people to afford houses at the current prices, even with ridiculously low mortgage rates.
End the Fed...then let's see how affordable home ownership becomes!
Are you too stoopid to figure out that subprime car buyers increase auto prices and that financing at a loss elevate/support asset prices - in this case its homes. Cities need to allow multi-generational housing. Smaller main house, carriage unit ove rthe garage and attached granny flat. Three generations live on the same property in separate units. Everyone lives comfortably in less than 2,500 SF total. Ultimately, this increases the affordability of ownership.
If rates were to rise, effective demand for home ownership would drop, which would depress prices. This is Obomber ppushing subprime borrowers into the market to support prices.
The low interst rate supports the higher price.
If interest rates rose, prices would fall....
The lending standards are a problem, too. Subprime is/was a major cause of the bubble. Banks gave out NINJa loans all over the place. That's where a lot of the bailout went to. Hell, every car ad I see targets the no job/no credit buyers. Just wait until the car financiers get a dose of their own version of the housing collapse.
Again one of my buddies in the central valley in California told me how in Merced (the worst area for foreclosures like Vegas) the city is building over 500 new condos and houses in the mid $200,000 again. This is a area where half the population lives in poverty and even a stable 2 income household could not service that mortgage and raise their kids.
The thinking is all the money to build is coming from HUD and that the 3% down fix is just another scheme to induce the poorest of the poor to in-debt themselves and never really own anything.
It is the worst angle of communism - crony capitalism.
The democrats really do hate America and their republican sidekicks are no different.
Not from HUD, tax abatements. Investors get together and each says, "fuck it, I've got $400k I can lose before 2016." It either goes to the Feds, or they each pay it forward and make Bank in 2020. People get jobs, machinery gets rented, county commissioners get greased because they own the labor force and heavy machinery.
You build new ghettoes on the back of your success and the .gov or .muni gives you a pass.
One of my buds is selling all his properties in the Central Valley as there ain't gonna be enough water for anything, shortly. My ag biz relative tells me that CA is short a few trillion cubic acre feet of water. (Yes, Trillion) and as of this year, we've received a few million cubic acre feet. The aquifers in the CV have dropped to the lowest common denominator (pipe depth) and gettin' tough to get permits to drill deeper. Having been declared a governmental resource, etc. Yet, the fucks down in the LA area still are getting their +++++ allotments at the expense of the crops..... pools, lawns, car washes and wet tee shirt contests....
Enjoy your strawberries, and milk and cattle, and whateverthefuckelse gonna cost more this year, again. And no, not the Fed. It's Mother Nature and Governmental Resource Allocations. (Some of you will decry then why are people raising rice in the CA CV? Well, dumb-fuck, its' because the Feds and State allocated enough water to do so. The farmer's just working with/around that shit.)
PLUS, get this one.
Another bud of mine lives out AZ, up Desert Mountain way. An ag bud of his says that a Federal Ag agent came by last year and filled in with him, a dozen or so page questionnaire, centered in upon what could you grow and how much if you had a lot less water?
Allocations and State Collectively Planned Farming, folks.
Dude, you wanna see some real shit - look at how low-income projects are "financed." Just a bundle of forgiven loans after like 15 to 20 years of renting to "low" income households. That's your hard earned money being GIVEN to "developer." I looked at one of these deals and could not figure out who would build the project as it made NO economic senes. I tracked down the grants and forgiveable loans and then it all became clear.
HUD corruption is legendary. Ask Catherine Austin Fitts.
I live in Brooklyn.... downtown Brooklyn looks a little bit like Miami in 2006. Tons of HUGE new condos being built. Cranes all over the place. Also, if you drive around, there are literally thousands upon thousands of brand new smaller condo buildings.
Demand is flat-lining and rolling over (ONLY buyers are spec and they've gone mostly silent).
Supply is rising fast as fuck and going to keep rising in foreseeable future.
Sound like another asset class we've recently seen plummet by 50+%...??
This shit is hilarious !!!!
"Today's action will mean more money in pockets" who smells the bullshit?
Do you smell what Barack is cookin'?!?
Despite what all of the media talking twats say, the real estate market is ALREADY rolling over.
The government is goddamn well aware of it and are now trying desperately to get ANY marginal new buyers in the market to prop things up just a tad longer.
The cracks are appearing. I'll be ready with my dry powder. Down 50% bid from 2014 prints and I'll dip my toe back into real estate. I'm looking forward to round-tripping the market again during QE4, 5, and 6....
A co-worker is looking to buy a house via FHA. He doesn't have the required 20% down so he's forced to take out insurance in case he defaults for an extra $250 a month???
Fucking rent dude!
I would advise him to work on credit and then look at the conventional option. You can take a traditional 30 year fixed ( non-fha) with 5% down. PMI will likely be much more reasonable than the FHA.
Squatting works too.
Have you explained to your co-worker that when one buys a home they are still paying rent through property taxes? Just fucking rent. You still get assfucked, but at least they use a condom and lube.
Correction: home borrowship
FHA is a rip off PMI never drops off
Yep...recent change.
Loan amount x 1.35%/12 would be your monthly...for the life of the loan :/
Fannie and Freddie ahve already been offering 5% down loans for a while. And FHA has been at 3.5% down for at least a decade now so this isn't really news. Behind the scenes there was a huge Qualified Mortgage reform which actually has a much more intensive process making sure people can afford the homes and have adequage reserves. I wouldn't make too big a deal about this particular piece. Lemmings will be lemmings...just stack phyz/lead and maintain an adequate ratio of boating accidents in the sequence...should be all set.
"we indebted some folks"
This kid is such puppet it's pathetic.
I can not bring or force myself to listen to anything the assclown Obozo has to say.
The same for all of his ass kissing cocksucking moron followers and socilist lacky boys.
They are the final flush for anything nearing freedom in this country.
I's gonna get me some mo cribs bitches. Thanks fo da dollaz and stop being so raciss.
Barry's to-do list
Gotta keep that unaffordable housing market going. Check
Gotta keep that unaffordable auto market going, Check
Gotta keep that stock market thingy going. Check
Gotta print MOAR FREE MONEY. Check
Gotta go play golf after trainwrecking country...FORE!
BOUGHT AND PAID FOR IN FIAT
traitor prez has the mike
A nation "of the banks, by the banks, for the banks".
This is just .gov pledging the public Treasury so the banksters and assorted corporate "individuals" (home-builders, realtors, lawyers, insurance, etc.) can continue the profiteering.
Never mind making banks be banks and getting rid of central banks that profit the banks; the casino must remain open and individuals and families punished for the sake of the kleptoligarchy!
The fact that it has the appearance of "helping" people while buying votes is icing on the cow pie.
The American public has the attention span of a retarded goldfish
Yeah, they're already buying them big dually pickup trucks again. Bring back the Hummer!
"Home ownership is good for the pocketbook of the country".
George W. Bush pre-crash 2007
Angelo Mozilla pre-crash 2006
"If they can fog a mirror, fund them"
My formula for home ownership if you make decent money:
1. Save your money in cash, PMs or other secure "return of capital" savings
2. Wait for the next RE bubble to pop.
3. Pay cash at the bottom for your RE.
4. Sell at the top of the next bubble.
5 Rinse and repeat.
He's such a dick...
Houses aren't affordable. Ten years ago they were, now they aren't just about everywhere you can get a job.
2004 average house in the town I live was $165k, now it is $285. It would be higher but there are a few trailer parks where you can buy a rusted trailer built in 1975 for $48k, BARGAIN!!!!
There is a new development being built with 1800sq ft colonials for the bargain basement price of $549k. Over half a million for a shitboard piece of garbage from Pulte.
You need 20% down to get out of having PMI, which even at 15% down is usually over $150 a month extra on top of your mortgage. My cousin tried to buy a house with 10% down and the PMI cas going to be $300 a month on top of the mortgage for a $200k house. He decided to say screw it.
Nobody outside the 1% has 20% cash to put down on a $500k house. Who are they going to sell these homes to?
Housing is dead until every house is cut 50%+ in value.
The similarities are incredible
“If you tell a big enough lie and tell it frequently enough, it will be believed.”
? Adolf Hitler
Not seeing any mention of this?
"The Obama Administration is directing, via executive action, the Federal Housing Administration to reduce annual mortgage insurance premiums by 50 basis points, from 1.35% to 0.85%."
"The White House statement says that the typical first-time homebuyer, this reduction will translate into a $900 reduction in their annual mortgage payment."
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Wow neat. I feel like the redhead mullet kid in Terminator 2!
Wow, cool! So you mean my aunt's daughter's best friend doesn't have to work at the computer for 88 hours a month to make $13666? This is a MUCH better scam, thanks!
Oh, almost forgot to mention: here's a red to balance out the upvote you gave yourself.
If this is true, you will soon be in prison.
ATMs have a stand-alone video pickup. There is no magic card to disable the CCTV.
Nice try, dumbass.
Can't wait until this new and improved "low-down" program gets underway in earnest in Denver where home prices on shoddy mid-1980's plywood boxes are currently making a fucking moonshot. Homelessness due to unavailability is seriously becoming a reality for hapless dipshits who've been told the streets are paved with gold in the Mile High City. And except for lower than normal wages, repressive socialist burdens like FUCKING OUTRAGEOUS property taxes and car registrations and a declining oil and gas sector, it's all true. So pack up the family and come to CO where the economy is really humming along. Chipotle, Noodles & Company and Best Buy are hiring!!
Seriously though, when this goes down, it's going to take half the state of CO with it. I don't care what anyone says about home prices not having yet exceeded 2006 levels here in CO. They eclipsed them about 2 years ago. We're in the solid fuel throttle up stage and the Taiwanese O-ring is about to go POP....
We have a government that Fannie mae bought
BOHICA!
Barack says: "Bubble good! Thrift bad!"
You heard it here first.
Fnm & fre were the goto contributors to congress! Hey "some folks want to buy houses"
FHA has been a 3.5%. FHFA oversees Fannie and Freddie and is lowering its down payment requirement (to buy on the secondary mkt) to 3%. It's all good!
Obama is creating a peak oil crisis. No drilling licenses, Higher regulation & fines for existing exploration, and Keystone pipeline hangs in limbo.
The day this nigger creates a crisis on limited oil supply, it will be his last day on earth. Can you hear me now US Tranny faggot in Chief Obama? Perhaps you should listen to your propaganda. Ready Obama, 3,2,1. It was written by cunt lick proressives like yourself..
Blind Spot documentary
Atomizer,
News flash! The marginal cost of new oil production in the USA is such that marginal revenue will have to jump like the stock market in 2013-14 before you can even contemplate what you are contemplating.
Did I miss this or are we on regular "O" time again (45 minutes late)
One last tidbit Obama, whether you’re hustling electric coal cars, natural gas alternative, or pissing up a tree to mandate gasoline mileage on cars. They all come from the same carbon footprint. A deranged idiot comes to mind when looking at the President of United States. How soon do you think Carbon Credit tax will be re- launched on Wall Street? We have roughly 6 billion on Earth, you are the walking clown ass idiot that thinks we are too stupid to see through your circus act of mirrors & smoke. Don’t forget Obama, you work for us. Regretfully.. you are a negro servant to the United States of America.
Symbol: C
Electron configuration: [He] 2s2 2p2
Atomic number: 6
Electrons per shell: 2, 4
Discovered: 3750 BC
Boiling point: 8,721°F (4,827°C)
Atomic mass: 12.0107 ± 0.0008 u
So he is going to subsidize housing again. he is going to subsidize automobile purchases AND insurance.
Why don't we let the market find the price point for these items and not subsidize?
LYINGCOCKSUCKER
Here we go again. Nothing learned from the first time sub-prime mortgages were all the rage...
http://www.globaldeflationnews.com/inflation-vs-deflation-part-3how-the-...
If the down payment rule change is the bulls last best hope, they will be extremely disappointed in 2015. You can already get 5% down loans with reasonable credir and the PMI is not horrible. Lowering that 1.5% and extending to risky borrowers sounds bullish until you look at the facts on the ground. Lower income people are shacking up roommates and/or multi-gen to spread the cost and rent larger homes. Those same homes asking prices put the monthly nut far ahead of the rent. Not to mention needing to show 5 peoples incomes to get the mortgage!
Mortgage guidelines and rates are an albatross. They cannot mask the fact that affordability is in the toilet and Housing Bubble 2.0 has run out of greater fools. Sales volume is the most prevalent indicator to market health and it is at mulch-decade lows. All while our economy is supposedly on the rebound. Math is going to be quite cruel to the specuvestors and REITs over the next 2 years.
The people who bought shiny new cars with 0% gonna need a driveway to wash and park it since they won't have jobs to go to.