Saturday, December 22, 2007

Calculated Risk Points to an interview with BOA Chief Kenneth Lewis

It is here:

The gist is that prime borrowers are more ruthless about default compared with the past. I am not so sure. The distribution of borrowers is very different from the past, because many households who previously would never gotten close to a mortgage were able to obtain one within the past five years.

The default rate on prime mortgages remains quite low. I am not sure that we have any evidence that prime borrower attitudes have changed. We will need to wait and see.


Anonymous said...

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