AEIdeas

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Discussion: (2 comments)

  1. Todd Mason

    Greenspan in 2008 on the mortgage crisis: “Those of us who have looked to the self-interest of lending institutions to protect shareholder’s equity (myself especially) are in a state of shocked disbelief.”

    Translation: Mortgage bankers did it to themselves, and to us and to our children.

    Not to worry about mortgage availability. As long as the Fed is buying MBS issues in lieu of the investors the banks burned, lenders will have plenty of time to study the rules.

    1. the spread between MBS interest rates and mortgage rates has been twice what it was:

      http://libertystreeteconomics.newyorkfed.org/2012/12/why-isnt-the-thirty-year-fixed-rate-mortgage-at-26-percent-.html

      banks are doing alright…

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