Danielle DeMartino
Today Danielle DeMartino with the Federal Reserve in Dallas gave a detailed overview of the recent crisis in the sub-prime market. Use historical and current economic data she provided a very vivid and compelling account of how the sub prime market evolved over the past 5 years and many of the factors that lead to the current situation.
Needless to say her information was enlightening and frightening. The net result…the affects of this sub prime market fiasco have yet to be felt and may get worse in the future as ARMs begin to reset next year. The problem is much bigger in scope than most people image and the affect on home prices across the nation is beginning to manifest itself now. Net, net…if you need a mortgage, put down 20%, have great documentation and forget about a jumbo arm.
September 13th, 2007 at 3:36 pm
Or call Rob Shuey. The last comment by Sean is a little extreme. Some situations have become much more difficult and our choices are not near as broad, but with good credit and a little money down, there are still some good loans out there.