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Subprime Loans Went to Rich as Well as Poor

High-rate mortgages accounted for 29% of all home loans last year

By Jason Farago, Newser Staff

Posted Oct 11, 2007 9:37 AM CDT

(Newser) – Crunching the numbers on 130 million home loans over the past decade, the Wall Street Journal finds that risky, high-interest loans were extended far beyond the low-income urban borrowers they are usually associated with. Last year, they accounted for 29% of all home loans, up... Read full story »

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Subprime Loans Went to Rich as Well as Poor

High-rate mortgages accounted for 29% of all home loans last year

housing market • subprime mortgages • home loans • credit crisis • borrowers

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More Newser Stories

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Decline tops even worst estimate

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August numbers double, with no end in sight

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Figures jump 93% over 2006; 1 in every 693 households in default

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ARM specialist's efforts can't hold off fallout from worsening crisis

New Flood of Foreclosures Looms

Adjustable borrowers face up to 35% spikes in mortgage payments

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