Bernanke: Housing is not out of the woods, lending remains too tight
OtherThe housing market experienced signs of recovery this year, but it’s far from out of the woods with 20% of mortgage borrowers still underwater, Federal Reserve Chairman Ben Bernanke said Thursday. The Fed Chair discussed housing and mortgage finance at the Hope Global Financial Dignity Summit in Atlanta. Bernanke said the Fed is pleased with the recent nine-month span of consecutive home price increases. But weak construction numbers remain a drag and “7% of mortgages are either more than 90 days overdue or in the process of foreclosure,” he added. […]
