Weiss Ratings Analyst Urges Caution Over Crypto-Backed Mortgages
-The Weiss analyst warned clients to be cautious when looking into a crypto-backed mortgage, arguing that the poor performance of cryptoassets and stocks this year represent a bad signal for the housing market.
-He also noted rising interest rates coming from the U.S. Federal Reserve and the possibility of the U.S. housing bubble popping in the near future.
-Markman was not opposed to all crypto-based risk, but he did compare the combination of crypto and mortgage loans to the subprime market that caused the Great Recession of 2009.
-The Weiss analyst also noted the rapid increase in domestic mortgage rates, which have increased 71% since January.
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