Subprime mortgages affects stock market

The ripple effect continues. The market is clearly concerned about subprime mortgages. This next week I’ll try to discuss the type of borrowers who will be affected by tightening of the subprime market.

Stocks Steady Amid Mortgage Concerns: Financial News – Yahoo! Finance: “Concerns about losses over soured subprime loans — loans to customers with poor credit ratings — were one of the many factors behind Wall Street’s selloff. Those worries were rekindled Monday when HSBC Holdings PLC, Europe’s largest bank, said its 2006 earnings rose 5 percent but that it suffered $10.6 billion on losses on bad loans from its U.S. subprime mortgage operations.”

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