Bill Gross, co-CEO of Pacific Investment Management, said that Fannie Mae and Freddie Mac should lower their down-payment requirements to help the housing market and the broader economy. "To the extent that you can finance a 3.5% to 4% [mortgage] with a 20% or 25% down payment, most ... households can't come up with the money," Mr. Gross said. "So there needs to be some type of cautionary reduction in terms of down payments."
Published in Brief: