Answer:
Inside a burning house, this thing is best to make. And best to make it quickly, before the fire's too much to take.
What comes down but never back goes up?
What is seen in the water and in the sky? It is part of the rainbow and can be in your eye
It comes only before, it comes only after. Rises only in darkness, but rises only in light. It is always the same, but is yet always different.
What must you give before you can keep it?
I repeat only the last word you say. The more I repeat, the softer I got. I cannot be seen but can be heard. What am I?