The 10 year yield is down. And importantly, as maybe Director Pulte mentioned, the spread between the treasury bond and the mortgage rate has compressed. So that is helpful. We saw The affordability or the amount of income needed to buy the average house come down about 4%. And nationally we're seeing rents come down. Now the American dream is home ownership, but also the affordability is getting rental prices down so that people can save for a down payment. (06:44–06:51)
CLAIM
Asserts that the income needed to buy an average house has decreased by about 4%.
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