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Explanation: A type of home loan extended to individuals with poor, incomplete, or nonexistent credit histories. Because the borrowers in that case present a higher risk for lenders, subprime mortgages typically charge higher interest rates than standard (prime) mortgages. The most common type of subprime mortgage contract offered in the United States is the adjustable rate mortgage (ARM), which charges a fixed interest rate for an initial period and a floating interest rate thereafter. The floating rate may be based on an index such as the federal funds rate , which is the rate at which banks lend money to each other overnight. The sharp increase in subprime lending that occurred in the United States beginning in the late 1990s was primarily fueled by subprime mortgages. According to the Federal Reserve , the share of subprime mortgages among all home loans in the country increased from about 2.5 percent per year in the late 1990s to about 15 percent per year in 2004–07. One reason for the increase was aggressive marketing by mortgage brokers, who were paid commissions on the basis of the quantity, not the quality, of the loan contracts they sold.
23 मई को मनाये जानेवाले विश्व कछुआ दिवस का मुख्य फोकस क्या �...
Which organization is responsible for managing the Credit Guarantee Facility under the scheme?
Trogoderma granarium is important stored grain pest which is commonly known as:
Which two areas have been selected in the first phase under the Nagar Van Scheme in the State?
Sterilization by use of irradiation is also called
In Pneumatic Knapsack sprayer tank is filled
The most important form of soil water for plant growth is
Faulty irrigation practices cause
Where is Indian institute of vegetable research situated?
System of Rice Intensification (SRI) method has been introduced from which country?