Subprime mortgage crisis/Timelines
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1990 - 2003
- Progressive discount rate cuts by Federal Reserve Bank (from 7% in 1990 t0 0.75% in 2003 [1].
- Housing boom begins (8% increase 2002 to 2003)
1999
Fannie Mae eases credit terms for subprime loans [2]
2003 - 2006
- Progressive discount rate increases (from 0.75% to 6.25% in 2006).
- Housing boom continues (Average 2006 house price about 70% above 200 level)