We did a sweep of our homebuyers from last year. I don't know how many put less than 20% down, but close to 20% of them would not have qualified for their mortgage this year who did qualify last year. For one of our agents who does a lot of military relocation, close to 15% of her relocating members would not have qualified for a mortgage for their forced relocation, given today's economy.
On February 1st, 2017. See this statement in context.