Subprime crisis

Subprime crisis,

Definition of Subprime crisis:

  1. A situation starting in 2008 affecting the mortgage industry due to borrowers being approved for loans they could not afford. As a result, a significant rise in foreclosures led to the collapse of many lending institutions and hedge funds. The financial crisis in the mortgage industry also affected the global credit market resulting in higher interest rates and reduced availability of credit.

Meaning of Subprime crisis & Subprime crisis Definition