官方APP下载:英语全能特训(微信小程序版,支持苹果手机、安卓手机)
创办于2003年
UNSV记不住?那就记中文谐音“忧安思危”吧!
  Slow and Steady Wins the Race!
UNSV英语学习频道 - Slow and steady wins the race!
公众微信服务号
英语全能特训(微信公众服务号)
UNSV英语学习频道淘宝网店
客服短信:18913948480
客服邮箱:web@unsv.com
初级VIP会员
全站英语学习资料下载。
¥98元/12个月

ECONOMICS REPORT - Adjustable-Rate Home Loans Could Hurt Many American Homeowners

阅读次数:


VIP会员专享下载:(非VIP会员无权下载!如果想下载,但还不是VIP会员,请点此订购
下载方式:使用鼠标右键(注意是鼠标右键!)点击下面的MP3音频/MP4视频链接,然后选择“另存为…”。
MP3节目录音 MP3节目录音  PDF节目文稿 PDF节目文稿 
文章正文
同步字幕

This is the VOA Special English Economics Report.

In the last few years, many Americans have bought houses with ARMs: adjustable-rate mortgages. These loans usually begin with lower interest rates for the first two or three years than fixed-rate mortgages. Then the rate changes as major interest rates rise or fall.

A foreclosed home in Pasadena, California.
A foreclosed home in Pasadena, California.

Holders could be surprised by their new, larger monthly payments as their loans reset to a higher rate. Some people may not even know they have adjustable-rate mortgages.

Some lenders and brokers who found loans for people are accused of misleading borrowers. Yet borrowers often did not even have to show proof of earnings.

Now, many people who took out adjustable-rate mortgages may not be able to make their payments. And not only holders of risky subprime loans; even buyers with better credit histories could lose their homes.

Next week, the Federal Reserve in Washington is expected to cut its target rate for short-term loans between banks. But long-term rates are the ones that affect things like housing loans, and these have been rising. Investors have been demanding higher returns in exchange for the risk of keeping money in longer-term securities.

Federal Reserve records show that homebuyers currently hold eight hundred fifty billion dollars in subprime adjustable-rate mortgages. The nonprofit Center for Responsible Lending points to numbers from UBS Investment Research. These show that two hundred twelve billion dollars in subprime ARMs will reset to a higher rate this year. Over one hundred seventy billion dollars in loans will reset next year.

The Center for Responsible Lending says subprime borrowers are the ones having the most trouble right now. One in five of them who received their loans in the last two years could lose their home.

Some homeowners hope to refinance their loans to avoid higher payments. But this is a bad time in the housing market. Falling home prices could make it difficult to refinance. This is true especially for buyers who were permitted to use little or no money of their own to buy their house.

Two weeks ago, President Bush announced some steps to help families avoid losing their homes while faced with rising payments. But last Friday there was more bad news: the economy lost four thousand jobs last month. It was the first time employers have cut jobs in four years.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

网友的学习评论(0条):
版权所有©2003-2019 南京通享科技有限公司,保留所有权利。未经书面许可,严禁转载本站内容,违者追究法律责任。 互联网经营ICP证:苏B2-20120186
网站备案:苏公网安备 32010202011039号苏ICP备05000269号-1中国工业和信息化部网站备案查询
广播台