Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.
Subprime are?
The red lines are subprime.
But to make sure that is right, the red lines are subprime?
We think there is probably $900 billion to $1 trillion in adjustable- rate subprime mortgages outstanding.
Subprime adjustable-rate loans are about 9 percent of outstandings, and subprime fixed loans are
But they could come back. I think subprime lending will come back under a different business model.
We reported in yesterday’s briefing that subprime borrowers constituted only about 13 percent of all mortgages outstanding.
It’s not that markets won’t work. It’s just the economics of originating subprime loans and
It’s quite a bit smaller share of total outstanding because the average life of the subprime
The serious delinquency rate is for the pool of adjustable-rate subprime loans, and they
of subprime. If you compare the characteristics of alt-A loans with those of subprime loans, you’ll
consists of subprimes or what share of the housing stock do we think is financed at the subprime level? My
There are a couple of themes. One is that the subprime problems are still being worked through
Bill, you talked about subprime mortgages in some detail but not about alt-A mortgages in great
2006 sixty-day and over delinquencies for subprime ARMs tracking with 2001. I don’t recall the world as
resetting over the next couple of years is about 7⅓ percent. What is roughly the current rate for subprime fixed-rate loans?
It is around 9 percent. If you get on the Internet and try to find a subprime fixed-rate loan
I have two questions. On page 2, when you talk about subprime paper, do we have any data that
I had been puzzled about the quantitative relationship between the subprime problems and the
Well, we here in Washington expect to have to answer a few questions about the subprime
