Mortgage Rate resets

Give people about a month after their subprime mortgage payment balloons to obscene proportions and it’s not hard to guess that in some cases, that will lead to divorce and broken homes. The next big wave of resets begins in March 2008, based on the CSFB data in the chart above.

Buckle your seatbelts and unplug the popcorn machine. 2008 is going to be a rough year.

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