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英语翻译The subprime mortgage crisis is a current economic probl

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英语翻译
The subprime mortgage crisis is a current economic problem characterized by contracted liquidity in the global credit markets and banking system.An undervaluation of real risk in the subprime market ultimately resulted in cascades and ripple effects affecting the world economy generally.
The crisis began with the bursting of the US housing bubble and high default rates on "subprime" and adjustable rate mortgages (ARM).Loan incentives,such as easy initial terms,in conjunction with an acceleration in rising housing prices encouraged borrowers to assume difficult mortgages on the belief they would be able to quickly refinance at more favorable terms.
The mortgage lenders that retained credit risk (the risk of payment default) were the first to be affected,as borrowers became unable or unwilling to make payments.Major banks and other financial institutions around the world have reported losses of approximately U.S.$435 billion as of July 17,2008.
次级抵押贷款危机是当前经济问题的特点是合同流动资金在全球信贷市场和银行系统.一个被低估的真正危险在优抵押贷款市场最终导致级联和涟漪效应影响世界经济普遍.
这场危机始于爆破,美国房地产泡沫和高利率预设的“优”和浮动利率(亚美尼亚) .贷款奖励,如简单的初步条件,配合加速房价上涨鼓励借款人承担贷款困难的信念,他们将能很快再以更有利的条件.
该抵押贷款机构保留的信贷风险(风险的付款方式默认)是最早受到影响,如借款人是无法或不愿付款.专业银行和其他金融机构在世界各地报道的损失约为4350亿美元.
2008年7月17日.