Word: mortgagesã
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Dates: during 2007-2007
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...wake of the summer’s subprime mortgage meltdown, Harvard economists are divided on the course of action Federal Reserve Chair Ben S. Bernanke ’75 should take at the Fed’s upcoming policy meeting. Subprime mortgages??€”loans which banks make on highly favorable terms to potential homeowners with weak credit histories—became common in recent years, but a rash of recent defaults has sent the mortgage industry into turmoil. Amidst worries that the mortgage crisis could be causing a general economic slowdown, many argue that an interest rate...
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