Journal Article
Why HARM the subprime borrower?
Abstract: Hybrid adjustable rate mortgages (HARM) were designed to be refinanced by the reset date, when the interest rate would jump. These mortgages worked out well for many people who were credit risks - but only as long as housing prices continued to rise.
Keywords: Subprime mortgage;
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https://www.stlouisfed.org/publications/regional-economist/april-2010/why-harm-the-subprime-borrower
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Provider: Federal Reserve Bank of St. Louis
Part of Series: The Regional Economist
Publication Date: 2010
Issue: Apr
Pages: 21-22