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.
CONTEXT(Help)
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The Global Financial Crisis »The Global Financial Crisis
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Potential consequences of the financial crisis? »Potential consequences of the financial crisis?
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More financial institutions will collapse »More financial institutions will collapse
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Financial institutions will suffer further capital losses »Financial institutions will suffer further capital losses
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Financial institutions forced to write off bad debts »Financial institutions forced to write off bad debts
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Many homeowners will default on mortgage and loans »Many homeowners will default on mortgage and loans
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Wave of option adjustable rate mortgage deafults to come »Wave of option adjustable rate mortgage deafults to come
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Alt-A mortgages accounted for 23% of US market in 2006
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