Markt-Daten Blog » Remarks by Chairman Alan Greenspan

Schuldner, die durch Zinsanpassungen auf ihre Hypothekendarlehen in die Insolvenz getrieben werden, stellen bekanntlich eines der Kernprobleme im amerikanischen Hypothekenmarkt dar.

Alan Greenspan äußerte sich bereits am 23.02.2004 zum Thema Immobilienfinanzierung mit langfristiger Zinsfestschreibung im Vergleich zu Darlehen mit variabler Zinskondition.

“American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage. To the degree that households are driven by fears of payment shocks but are willing to manage their own interest rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home. Recent research within the Federal Reserve suggests that many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade, though this would not have been the case, of course, had interest rates trended sharply upward.”

http://www.federalreserve.gov/boardDocs/speeches/2004/20040223/default.htm

Helmut Wüllenweber

1 Kommentar

1 Cordula - 21.04.2008 um 21:15: Danke für diese Erinnerung; damals wurde bereits kräftig gewarnt, u.a. die Consumer Federation of America (24.7.2004):

“Historically, ARMs were the most likely to be purchased by affluent consumers who could afford mortgage interest rate increases. But recently, ARMs, which are now the choice of more than 30 percent of mortgage purchasers, are being marketed by some lenders to all potential buyers, regardless of income or assets. More disturbingly, according to one report, subprime borrowers are more than twice as likely as those with high credit scores to purchase ARMs.

“Lenders who aggressively market ARMs to lower-income consumers and those with low credit scores are acting irresponsibly,” said Brobeck. “Given the high probability of interest rate increases, an adjustable rate loan made to a family which can barely afford the initial monthly payments represents a ticking time bomb,” he added.”

“In a rising interest rate environment, investors should be particularly leery of purchasing subprime adjustable rate mortgages,” said Brobeck. “These high-priced ARMs have the potential to harm investors as well as borrowers,” he added.

Den Bericht habe ich auf den Server gestellt – CFA Urges Lenders to Fully Disclose Risks and Potential Costs of ARM

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Remarks by Chairman Alan Greenspan

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