Crypto meets mortgages: Will digital wealth be factored into serviceability?
A recent example from the US has highlighted the growing acceptance of cryptocurrency and begs the question: will Australia follow suit?
Freddie Mac and Fannie Mae – two of the biggest home loan financers in the US – were recently ordered by the Federal Housing Finance Agency (FHFA) to consider cryptocurrency as an asset when entering a mortgage.
This has the potential to have massive ramifications not only for the US but also Australia as crypto becomes more accepted.
US President Donald Trump has been a long-time embracer of crypto and has plans to make the US the “crypto capital of the planet.”
This latest move from his administration means that if someone owns crypto, it could help them…
