Sunday, August 11, 2013

After a housing bubble, do Americans really need subsidized 30-year mortgages?

There’s one important thing to remember about America’s housing-driven economic recovery: The government financed almost all of it.

Now American lawmakers are figuring out just how much it’ll pay for in the future—and whether it should cover the costs of the pricey 30-year home loans most Americans view as their birthright.

Today, the bulk of new mortgage loans are guaranteed by the US government. In the first part of 2012, it was nine in ten mortgages, up from three in ten in 2006.

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