sub prime was due to over exte

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Pluto891
2022-09-21

sub prime was due to over extent of loan n collateral to poor quality assets.

This time if rate keep rising n loan default snowball.. it might spell disaster...

U.S. Mortgage Interest Rates Reach 6.25%, Highest Level Since October 2008

The average interest rate on the most popular U.S. home loan climbed to its highest level since Octo

U.S. Mortgage Interest Rates Reach 6.25%, Highest Level Since October 2008

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This time if rate keep rising n loan default snowball.. it might spell disaster...","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9919144528","repostId":2269156251,"repostType":4,"repost":{"id":"2269156251","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1663760218,"share":"https://www.laohu8.com/m/news/2269156251?lang=&edition=full","pubTime":"2022-09-21 19:36","market":"us","language":"en","title":"U.S. Mortgage Interest Rates Reach 6.25%, Highest Level Since October 2008","url":"https://stock-news.laohu8.com/highlight/detail?id=2269156251","media":"Reuters","summary":"The average interest rate on the most popular U.S. home loan climbed to its highest level since Octo","content":"<html><head></head><body><p>The average interest rate on the most popular U.S. home loan climbed to its highest level since October 2008, Mortgage Bankers Association (MBA) data showed on Wednesday.</p><p>Rising mortgage rates are increasingly weighing on the interest-rate-sensitive housing sector as the Federal Reserve pushes on with aggressively lifting borrowing costs in order to tame high inflation.</p><p>The central bank is set to raise interest rates by three-quarters of a percentage point for a third straight time later on Wednesday.</p><p>Expectations for Fed tightening have led to a surge in Treasury yields since the start of this year. 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The yield on the 10-year note acts as a benchmark for mortgage rates.</p><p>The average contract rate on a 30-year fixed-rate mortgage rose by 24 basis points to 6.25% for the week ended Sept. 16, a level not seen since towards the end of the financial crisis and the Great Recession.</p><p>The MBA also said its Market Composite Index, a measure of mortgage loan application volume, increased 3.8 percent from a week earlier, but remained well below last year&#39;s levels. 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