Jeff Kaminski: Sure. Matt, I can respond to that. So as always, we have the advantage of looking at our backlog as we forecast margins and we’re anticipating that backlog right now delivers out over the next three quarters we know specifically in that backlog, the pricing, the cost, et cetera. So I have a pretty good hand on the margin included in there. I would caution a little bit on the net order average selling price. There is a bit of noise in there, not only from the point of your community mix and different plans obviously that are in the back or in those numbers, but there’s backlog adjustments and noise associated with those backlog adjustments that get flushed through the average selling price on net orders every quarter.
So those are the couple of items why that may not with some of your numbers. But essentially at the end of the day as we look at it, we have obviously some pricing pressure in the market that we’re forecasting. Some is already embedded in our backlog and then some of the cost savings that Rob pointed out, but many of those have hit fourth quarter early next year, and we have pretty good beat on the margins excluding any unforeseen events over the next few months.
Matthew Bouley: Got it. Okay. Super helpful. Thanks for that, Jeff. The second one, just kind of higher level, recognizing the stress in the banking environments and regional banks is evolving quickly here. I’m just curious of what you’re seeing kind of on the margin in these past few weeks. Any kind of thoughts or what you’re hearing around lending standards as well as just kind of impacts within your own mortgage business. How are you thinking about how this kind of rapidly evolving in environment on regional banking may impact your business? Thank you.
Jeffrey Mezger: Well, Matt, we’re watchful like everyone on this call to see how this plays out. We’re not hearing anything right now on tighter lending standards. We’re not hearing buyers say this banking crisis is really influencing my confidence. It’s pretty quiet, but it’s a headline that you’re €“ you have to be watchful of and that if the regional banks got really stressed, it has to impact the economies where those banks are located. So we’re watchful of it, but to date, there’s no change in underwriting, liquidity is out there. Certainly the big banks we do business with are all open and doing their things. So far it’s been good. If anything it helps drop mortgage rates down and it helps the consumer, but we have to wait and see how it plays out.
Operator: And the next question comes from the line of Mike Dahl with RBC Capital Markets. Please proceed with your question.
Michael Dahl: Hi. Thanks for taking my questions. I guess Jeff, just to follow-up on that last comment, what are the things that you’re most watchful for? What are the things that you view as the most leading indicators, whether it’s feedback from your customers or things that you’re seeing in the market from various lenders in terms of kind of identifying if or when or where you would start to see some of these stresses play out and start to impact your business?
Jeff Kaminski: Yes. I think if you’re asking from the point of view of the consumer, obviously the headline is the mortgage rate and as Jeff said, some of the recent actions to moderate that a little bit. I think that’s the number one concern on the consumer’s mind. Lending standards as Jeff also mentioned, really haven’t changed it as far as we could see up to this point. So those would be the two watchouts. Spring so far for us is has been pretty healthy and we’ve liked what we’ve seen on the sales side and consumer behavior and we hope that continues and this whole banking situation sells and we kind of move on. We are watchable of it and obviously concerned as everyone is on where this could lead, but so far so good as far as our business goes.
