(Reuters) - NEW YORK, July 20 - Borrowers of almost half of
the $500 billion of risky subprime mortgages facing higher
interest rates over the next 18 months will have trouble
refinancing, J.P. Morgan Chase & Co. said on Friday.
An inability by many homeowners with spotty credit
histories to refinance their mortgages would lead to more
mortgage delinquencies and defaults, increasing losses in
investment portfolios that hold securities backed by the
loans.
Read more at Reuters.com Bonds News
the $500 billion of risky subprime mortgages facing higher
interest rates over the next 18 months will have trouble
refinancing, J.P. Morgan Chase & Co. said on Friday.
An inability by many homeowners with spotty credit
histories to refinance their mortgages would lead to more
mortgage delinquencies and defaults, increasing losses in
investment portfolios that hold securities backed by the
loans.
Read more at Reuters.com Bonds News
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