Exact(1)
Mortgage costs relative to annual incomes are still extremely low (around 17% compared with a historic average of almost 24%), so there is scope for mortgage rates to rise further without choking off the nascent recovery.And what of the opposite fear, that a new housing bubble may be forming?
Similar(57)
Even if house prices simply flatten off, the scope for mortgage-equity withdrawal and hence consumer spending will slow sharply.
There remains plenty of scope for the mortgage industry to raise its productivity.
Congress is already working on a bill to overhaul financial regulation, but Mr. Angelides has said there will still be scope for more reforms, including possible changes to mortgage financing.
Consider the deduction for mortgage interest.
Life insurance could now be extended to 20 years, which would be particularly useful for mortgage cover.
Sign up for mortgage insurance.
Tap your personal network for mortgage leads.
Hedge funds and others have been using derivatives to short bonds backed by subprime mortgages.Dubious mortgages are now a growing share of the mortgage-backed market, so there is scope for more trouble.
But that extra cash could soon run out: even if property prices stay high and mortgage rates stay low, the scope for home-equity withdrawal will decline.
Her job as a university administrator was unfulfilling, she had massive debts and a mortgage, but there was little scope for promotion.
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