St Casimirs Mortgage Minute

Keating Discusses Barriers to Homeownership on CNBC

"With a combination of rising house prices, a modest recovery, young people with a lot of student loan debt and very rigid mortgage rules, we've seen less [housing] activity than we'd like to see," ABA President and CEO Frank Keating told the hosts of CNBC's Nightly Business Report last night.

Keating noted that new regulations like the Qualified Mortgage rule pose a particular problem for younger borrowers who may not be able to meet the more stringent QM criteria.

"A home is a great investment long term. And I would hope that we would get some rationality in these regulations so young people can have a shot at [homeownership]," he said.