What caused the home mortgage rates to sky rocket, causing people being unable to pay their monthly mortgages?
Written by admin on March 7, 2010 – 7:04 pm -The recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high?
Banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses.
Big businesses then had to cut back on expenses and began to lay people off the the thousands.
So what caused the mortgage rates to go up so high that started this financial mess in the first place?
Tags: being, caused, causing, home, monthly, Mortgage, Mortgages, people, Rates, rocket, Their, unable
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30-year mortgage rates rise as new-home sales fall
Written by admin on February 26, 2010 – 5:24 pm -30-year mortgage rates rise as new-home sales fall
Mortgage rates climbed for the first time in three weeks, increasing borrowing costs as new-home sales slumped to the lowest level on record.
Read more on Washington Post
Tags: 30year, fall, Mortgage, newhome, Rates, rise, sales
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