Perhaps wiser standards such as 20% down on mortgages and a payment no more than about 30% of your monthly income will return to favor as a result of the tears.
Although good rules to live by, from a market standpoint I don’t even find that necessary.
What the mortgage lenders have already done is good from a lending guidelines standpoint. Now we just have to wait for the old, existing riff raff loans to shuffle out.
Why, how old-fashioned of you, to expect people to make a down payment when taking on a mortgage, and actually testing to see if they can afford the payments. ;-)
“Perhaps wiser standards such as 20% down on mortgages and a payment no more than about 30% of your monthly income will return to favor as a result of the tears.”
So people can be locked out of the market?...