Are mortgage markets poised for a comeback?

There is an interesting article in The Wall Street Journal by James Hagerty entitled "Mortgage Markets Get a Hand - BofA Purchase Is Vote Of Confidence in Revival Of Housing Industry" which strongly suggests that the buyout of Countrywide by Bank of America may mark a real turning point for the mortgage markets and the housing markets.

Granted, there are plenty of open issues, including legal liabilities related to "bad" subprime mortgages, but there does seem to be plenty of upside potential on virtually all sides.

In any case, at least this is a solid piece of good news relative to the endless stream of bad news for the housing and mortgage markets.

-- Jack Krupansky