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次级债危机,源于美国金融机构向信贷记录不佳的“穷人”提供按揭贷款,然后将这些贷款证券化(称为次级抵押贷款),以较高的回报率卖给机构或个人投资者。从2004年6月30日至2006年6月29日的两年里,美联储连续加息17次,利率的大幅攀升,致使购房者还贷负担加重,加上同期美国房地产市场大幅降温,很多贷款购房人无法按期偿还借款。次级债危机始于2007年3月并愈演愈烈,由于涉及全球众多机构投资者的参与,致使危机迅速蔓延,强烈冲击着世界金融体系。
The subprime crisis stems from the fact that U.S. financial institutions offer mortgages to the “poor” with poor credit records and then securitize those loans (known as subprime mortgages) to agencies at a higher rate of return or Personal investor From June 30, 2004 to June 29, 2006, the Federal Reserve raised interest rates 17 times in a row over the past two years. The sharp rise in interest rates led to a heavier repayment burden on home buyers. In addition, the real estate market in the United States experienced a sharp drop in temperature over the same period. Many loans Buyers can not repay the loan on schedule. The subprime crisis began in March 2007 and intensified. As a result of the involvement of many institutional investors worldwide, the crisis spread rapidly and strongly impacted the world financial system.