However, for all its considerable benefits, the broadening of access to mortgage credit that has occurred during the past decade also had important negative aspects. Not surprisingly, given their weaker credit histories and financial conditions, subprime borrowers default on their loans more frequently than prime borrowers.
Judging by the recent moderation in long-term rates and lower inflation levels, it appears we have got the overall policy effort about right  5 Bryan Harris, 8 June 2020, ‘Brazil central bank chief resists using new QE powers’, Financial Times,  available at https://www.ft.com/content/e6eb0759-3a14-47ec-9835-a0b5d509b97c.