Subscribe to Dollars & Sense magazine. Recent articles related to the financial crisis. Foreclosure Crisis Far from OverHat-tip to The Automatic Earth blog for this tidbit, from a recent investment fund memo. Although a majority of subprime mortgages have already seen their rates reset, there are a slew of other adjustable rate mortgages that are not technically subprime but that are likely to produce a huge new wave of foreclosures when their interest rates reset in 2010 and 2011.A broader profile of mortgage resets is presented below (though even this chart does not include the full range of adjustable mortgage products).The whole memo is well worth reading. Labels: ARMs, foreclosures, Hussman Funds, subprime crisis, The Automatic Earth blog
Comments:
Plus, don't forget that as unemploymnent increases, so will defaults on all mortgages, subprime or not. This is going to get worse long before it gets better.
Post a Comment
<< Home |