The Obama administration called for gradually raising down payments to a minimum of 10% on conventional loans, meaning those that can be bought or guaranteed by mortgage giants Fannie Mae and Freddie Mac. And mortgage data show that private lenders are already pushing sharply higher the required down payments, mainly to mitigate their risk as home prices continue to fall.
Where do you think down payments should fall? Should the equity be more substantial to prevent default? Or should entry barriers to homeownership be lower to help the housing market recover?
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