NY Fed's Williams: Rising home prices don't pose financial stability risks

10/21/2021 | 09:32pm

Oct 15 (Reuters) - Home prices are rising because of low interest rates and as seek out more living space during the COVID-19 pandemic, but the trend doesn't pose big risks for financial stability, New York Federal Reserve Bank President John Williams said on Thursday.

"Banks are ... much better capitalized, much better positioned in terms of risks to them from a downturn in the housing market," Williams said during a virtual discussion. There is also less credit risk in the housing market now than there was before the last financial crisis, Williams said. (Reporting by Jonnelle Marte; Editing by Christian Schmollinger)

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