Maybe HLS will see this, I wonder what the effect of 15% down requirement will be? If you have to have PMI at 15% anyway, wouldn’t a buyer just lower their pruchase price target and go 20%? Or is PMI on a 15% down loan a much smaller price?
This story isn’t getting a ton of play but I think this will be one of the biggest catalysts for the next phase down in the market, what percentage of the “pent up demand” theory just got benched, I think the amount of buyers with cash in hand isn’t that large.
New T-shirt Idea…
“Got 20%”
or a new commercial for the the radio for the mortgage brokers…
