Fed's Olson on US mortgage products

In the speech 'Revisiting traditional paths to ownership' given on 23 June, Mark Olson of the Federal Reserve said an explosion in mortgage products that lowers payments in the early years of a loan has helped to extend U.S. home ownership, but carries risks.

"To the extent that these new mortgage products promote homebuying decisions that are premised on unrealistic rates of home appreciation, they raise concerns," he told a community development policy conference hosted by the Cleveland Fed.

"So

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