Alt-A mortgages accounted for 23% of US market in 2006
According to Credit Suise, Alt-A (low-teaser interest rates for limited time period, often large mortgages with little deposit required) and Option ARMs accounted for around 23% of total home purchase originations in 2006.
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The Global Financial Crisis »The Global Financial Crisis
Potential consequences of the financial crisis? »Potential consequences of the financial crisis?
More financial institutions will collapse »More financial institutions will collapse
Financial institutions will suffer further capital losses »Financial institutions will suffer further capital losses
Financial institutions forced to write off bad debts »Financial institutions forced to write off bad debts
Many homeowners will default on mortgage and loans »Many homeowners will default on mortgage and loans
Wave of option adjustable rate mortgage deafults to come »Wave of option adjustable rate mortgage deafults to come
Alt-A mortgages accounted for 23% of US market in 2006
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