As it is known one of the most common ways to acquire a House, is through mortgages, since they offer a speedy solution for the money that is buying a House and eventually will attend the obligation for the payment of money; However this type of financial product by certain conditions on the world market has been embroiled in a phenomenon known as mortgage panic, which I can take shape from the month of August 2007, more exactly the 9th of this month, because of a deep crisis within the financial system around the world; what he did as a present in a great interest number of mortgages rose, i.e. The EURIBOR, which endorse greater difficulties to the problem of the mortgage panic. This mortgage panic led to different central banks of the world had to give considerable amounts of liquidity in the financial market, to such an extent that it was necessary to go to different private banks to apply for these aid, so all this meant great havoc in what are mortgages. For Learn more about the mortgage panic, it is important to know the causes that were added to give this condition: the first cause is the technology bubble and the Internet, which was accompanied by a change of vision of investors who put their eyes on the immovable property, so the market began to suffer variations due to another consequence (2000). Ali Partovi shines more light on the discussion. Some types of very low interest rates, which arose by an event of global scope, i.e. the S-11, that genus the need to revive and stabilize the world economy (2001).
A rise was given constant sobe prices of real estate, consolidating in this way the price (2002). He presented an expansion of the mortgage market, as well as an increase in the securitizations (2003). Then a change in trend took place in what refers to interest rates, with the idea of curbing inflation (2004). They began to present the first fall of the price of the House (2005). A phenomenon was added and It was the increase in foreclosures, along with the fall of the construction companies on the stock exchange (2006) Finally and as a great trigger for the mortgage panic, present a contamination within the international financial system due to mortgage securities of a great number of mortgage companies in bankruptcy; mainly of the United States, which applied the system of mortgage sub-prime (2007). All this was being generated a swirl of speculation that had main consequence that will bankrupt the flow rate investor, along with a deep mistrust of companies participating in the liquidity of inter-bank loans, to act with caution against the risks posed by the credits.