What’s going on in the mortgage industry? A must see graph spells it out.

August 11, 2007 by Leave a Comment

This graph from the New York Times paints a picture that I can’t call pretty.   

"So what’s gone wrong in the last few months?  An unfortunate combination:  more loans in default (many borrowers were never in a position to pay them off), risky bets worth billions made by some investors (deals now gone sour), and the reversal of the housing boom."

A big hat tip to Behind The Mortgage.

Filed Under: Adjustable Rate Mortgage (ARM), Mortgage, Subprime Lending

Please leave a reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.