Wells Fargo lending at 3% down... have we been here before???

[Vamshi Ananth]

Today's news, Wells Fargo back to lending home loans at 3% down without FHA. Does this sound and bells? Looks like history does not repeat but definitely rhymes. In my opinion we may be entering into the final phase of the housing boom cycle, wonder how long this could last before the next correction.Below is the link to article from WSJ.

http://www.wsj.com/articles/wells-fargo-to-offer-low-down-payment-mortgages-without-fha-backing-1464235261