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A Look Beneath the Bank Mortgages After The Crisis



A Look Beneath the Bank Mortgages After The Crisis

The U.S. housing market is in good stature while America’s giant banks are taking advantage of the mortgages.

The healthy housing market showed some good signs,  as seen last Tuesday from S&P/Case- Shiller Home Price Index with a rise of 5.3% in February this year. Previously, existing home sales went up to 5.1% in March as reported by the National Association of Realtors, right after the decline in February which caused anxiety and panic to the observers.

As a result, the banks not only made more mortgage loans, but they also selected which to keep more of them on their records as opposed to selling them to government-backed detractors like Fannie Mae and Freddie Mac. Both of these guarantors are described as “jumbo mortgages”, which often surpass size limits.

From the records of the Federal Reserve, the share of outstanding mortgage debt by the U.S. banks went up to 31.7% in the month of October 2015 which also happened to be the latest figure at hand. That figure is up from 30.9% compared to the previous and the highest proportion since the depths of the financial crisis in April of 2009.


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