Price declines will determine extent of subprime crisis 

The foreclosure crisis will "get worse before it gets better," but just how bad depends on how far house prices fall, the president of the Federal Reserve Bank of Boston said today.

In a speech based on a new study of subprime lending in Massachusetts, Boston Fed chief Eric Rosengren encouraged lenders to extend the loan terms of qualified borrowers facing interest rate resets or help them refinance into fixed-rate loans.

more...

To view this premium content sign in to your Premium Member account.

Premium Members have full access to all news archives & premium content.

Purchase Professional Membership for $199/year OR
Premium+ Membership for $149/year OR
News Membership for $69/year

Buy Now

Advertise with Inman

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.