Subprime
From FXPedia
The term “subprime” refers to the risk profile belonging to the borrower of funds and not the actual rate at which the loan is charged. The subprime mortgage predicament that has gripped the U.S. – which has now filtered through to other countries as well – stems from the fact that mortgages were being offered to individuals for amounts that they really could not afford. In some cases, mortgages were even being offered to individuals that, given their credit history, would not ordinarily qualify for a mortgage in the first place.
Related Links
