[Few people will argue that consumers haven't benefited from these changes.] Keep in mind that 20 years ago you couldn't buy a house unless you had a 20 percent down payment, ... You had three choices of loans, adjustable, 15-year or 30-year.

Anthony Hsieh

Mind People Will

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[With the report now out, rates could come up even more.] Most lenders will increase rates by a quarter to three-eighths of a percent today, ... Remember, rates move up of a lot faster than they come down.

— Anthony Hsieh

People who calculated what they could afford when rates were 5.25 percent have realized their mortgage payments are going to be a lot higher now that rates have gone up, so they're going for interest-only loans.

— Anthony Hsieh

I have seen debt ratios as high as 70 percent or 80 percent. But somehow these people have found a way to pay their housing debt and keep their credit score high.

— Anthony Hsieh

There seems to be a sense of urgency, especially among first-time buyers. We're seeing people in their 20s and 30s who have the 'I need to buy a home now' attitude.

— Anthony Hsieh

The attractiveness of this product is flexibility, but that flexibility sometimes can get people in trouble.

— Anthony Hsieh

FlexibilityPeopleTrouble