Monday, December 15, 2008
We don’t even need sub-prime any more for HPC
Prime mortgage borrowers struggle with payments, report says
"The study by ratings agency Standard & Poor's showed that the percentage of so-called "prime borrowers" – the most low risk borrowers – who were finding it difficult to repay their loan was at its highest level since 2000, when its records began. "
Posted by voiceofreason @ 04:11 PM (886 views)
3 thoughts on “We don’t even need sub-prime any more for HPC”
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symo says:
Oh dear, are they prime or were they banking on low interest rates and their cushy service jobs for life.
mark wadsworth says:
Assuming they are talking about the UK, 3% in arrears is pretty heroic.
paul says:
This is the same Standard & Poors that gave AAA ratings to the debt held by these people’s lenders.
Seriously, both Moody’s and S&P should be in leg irons by now.