ARM Resets Ahead
The turmoil that rocked financial markets over the past few weeks was initially sparked by problems that originated in the sub prime housing mortgage loan market.
Over the past few years interest rates have been so low, credit standards set so low, and home loan funding so easy to obtain, thanks to the maneuvering of the US Federal Reserve Bank, that a huge number of housing loans were made to people who, at best were and are poor credit risks.
