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ii) Subprime problem involves millions of people who chose to purchase houses with subprime mortgages, which basically means mortgages with rates below the prime interested rate. Because of subprime mortgage, this allowed most of the people to buy a house which is worth more than they can afford. In most of the cases, people who are willing to buy a house just need little or no down payment of the house.
Apparently, the subprime problem is that banks were loaning out large amount of money to people for mortgages who could not really afford them. Subsequently, how much you can borrow from the bank is depends on your income, banks are willing to figure you paying 33% of your income to a mortgage, figure five years of your current income multiplied by 0.33, this will be the roughly amount of money that the bank will lend you as a mortgage. On the other hand, this kind of loan normally has a steady increasing interest rate. It makes lots people could not afford to pay off these bills because they already have no savings and extra money to pay the higher bills. Thus the banks will forclose on the home. This is called house bubble which will cause the subprime problem.
There are many other factors that cause the subprime problem, for example, the Federal Reserve’s accommodative interest rate policy, tech bubble, credit card bubble and the rapid growth of the internet. The subprime problem occurs when the subprime market is overloaded with bad loans, since it is easy for people to buy a new house or open a credit card account with borrowing large amount of money from bank even without any proof.
In a brief, the subprime problem is always involve bad loan that people can not pay back, since banks are greedy and finally people lose their house, banks lose their money.
iii) The subprime problem in US indicates the subprime mortgage crisis which goes beyond home ownership. And it has a great impact on the US financial markets and the real market. For example, the process affects either other financial areas or the mutual fund which are slowed down by mortgages or homeowners who have no ability to pay higher payments. Usually, they are forced to default on their auto loans, home or even on their credit cards too, where lots people are not able to pay back the loans with higher interest rate, since their budges are not covering these changes. Therefore, banks lose their money and peop本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。