By Julia La Roche | Yahoo Finance
Banking analyst Dick Bove of Rafferty Capital Markets warned that the mortgage markets in the United States are in “more disarray than they were in 2008.”
“In my view, the mortgage market in the US is now broken down. And it’s causing an impact on the ability to sell houses, and through that, the economy,” Bove told Yahoo Finance in a telephone interview on Tuesday.
He went on to cite three key reasons as to why he thinks the mortgage market has broken down.