Saturday, September 29, 2007
Mortgage re-sets, coming soon to a town near you!
An oldish blog entry, shows an interesting graph of mortgage resets due in the US, it would be great to see similar stats for the UK in this format, but I would think that we are somewhere close to this in anycase and about 1yr behind. But its the trend rather than the precision that matter. Remember that each wave of re-sets and defaults further harms the balance sheets of investors who bought toxic mortgage backed securities.