here we go again
is this part 2?
About 20% of conventional mortgages this winter went to borrowers spending more than 45% of their monthly incomes on mortgage and other debt payments, according to the report. That’s almost triple the proportion of such loans from 2016 and early 2017, and the highest ratio since the housing crisis.
At issue, say economists, are home prices rising at a faster pace than incomes.
For Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) - where the amount of these high debt-ratio loans soared 73% in 2017’s second half (mostly thanks to Fannie) - it might be worth remembering how they got into this government conservatorship mess in the first place.
"You want a quote? Haven’t I written enough already???"
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