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.

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

Rhonda Porter (NMLS 121324) is a licensed Washington Mortgage Advisor with 25+ years of experience helping buyers and homeowners understand their mortgage options. She writes Mortgage Porter to bring clarity and confidence to the home-financing process.

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