The Fed, subsequent to, I believe the appearance you were talking about, it was lowered rates twice. 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. (06:34–06:42)
CLAIM
Asserts that the spread between treasury bond yields and mortgage rates has decreased.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
