Journal Article

Why HARM the subprime borrower?


Abstract: Hybrid adjustable rate mortgages (HARM) were designed to be refinanced by the reset date, when the interest rate would jump. These mortgages worked out well for many people who were credit risks - but only as long as housing prices continued to rise.

Keywords: Subprime mortgage;

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: The Regional Economist

Publication Date: 2010

Issue: Apr

Pages: 21-22