Thursday, August 03, 2006

mehr zur kommenden zinsanpassung

das meiste ist euch inzwischen schon bekannt. alleine das ausmaß der summen ist allerdings immer wieder atemberaubend. zum vergleich der bundeshauhalt beträgt ca. 360 b$.

setzt das mal ins verhältnis zu den kommenden anpassungen.

Painful ARM twisting
Resets of adjustable mortgages will leave costly stretch marks


BOSTON (MarketWatch) -- It is becoming increasingly obvious that financial advisers, real estate experts and parents will someday point to what is happening in the mortgage market today and use it as a cautionary tale of what can go wrong when a buyer stretches to get too much house during a market that seems invincible.(wie die geschichten nach dem crash)

The popularity of adjustable-rate mortgages means that nearly 25% of all outstanding U.S. mortgage debt is due for an interest-rate reset within the next two years, according to, a Web site run by Moody's Corp. Some $400 billion in loans will get a new rate this year, and another $2 trillion are set to move in 2007.

Those moves won't be pretty. Just two years ago, the prime rate stood around 4%; today, it is more than twice that. As a result, payments on some ARMs will double too. The current forecasts from a number of experts have defaults on those loans increasing by 10%.

"There is no apples-to-apples comparison from the kind of mortgage someone could get a year ago and what they can get today," said Anthony Hsieh, president of "As rates rise on adjustables, there are steps people can take to reduce the sticker shock, but they're probably not going to be too happy with what they have to swallow now. ... They had a 42-year low in mortgage rates, but they were more concerned with how much they would have to pay each month than how much they could afford and buy a home reasonably."
(das beschreibt es gut. frage ist wie beim autokauf eher "wie hoch ist die rate?" zins und kreditbetrag spieln keine rolle)

People's choices are only going to get uglier, and plenty of people are on their way to trouble. ... For everyone who has avoided this trouble, they're going to look back someday -- when their kids are looking for a mortgage and are tempted to stretch too far by using an ARM -- and have stories to tell about how they saw a time when everything that could go wrong with that strategy did go wrong."



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