InvestorInsight has an interesting chart of the amount of adjustable rate mortgage resets that will be happening over the next year or so. While we think that there have been an incredible amount of mortgage resets in the past few months the real bubble will be occurring starting in January of 2008. For the period of January to April expectations are that 370
million billion in adjustable rate loans will reset.
Now in reality, most of these loans will be refinanced or kept up to date, but if the credit situation does not get figured out, there are going to many households that are going to be stressed.
Adjustable Rate Loan Resets For 2007–2008
Month Millions January-07 22 February-07 25 March-07 35 April-07 37 May-07 36 June-07 42 July-07 43 August-07 52 September-07 58 October-07 55 November-07 52 December-07 58 January-08 80 February-08 88 March-08 110 April-08 92 May-08 76 June-08 75 July-08 50 August-08 35 September-08 26 October-08 20 November-08 15 December-08 17