To fix broken mortgage markets, look to Denmark
Rising interest rates have exposed the problems with many home loans
IT MATTERS when mortgages malfunction. Home loans underpin tens of trillions of dollars of financial assets, not to mention some of life’s most important transactions. And though the rich world is mercifully free of the tearaway lending that caused the global financial crisis of 2007-09, mortgage markets remain riddled with problems. The sharp rise in interest rates over the past year and a half has exposed them.
This article appeared in the Leaders section of the print edition under the headline “Great Danes”
From the September 2nd 2023 edition
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