subprime mortgage是什么意思

翻译一句话 关于贷款的
I have 24 years left on 30 year mortgage. I am thinking about a home equity loan at a favorable rate, rather than roll in to refinance consolidation. If rates are favorable later this year I may like to refinance 1st mortgage at 15 years. Will home equity loan affect my refinancing even if I am not looking for any cash out?
没有人知道吗? 那我抛砖引玉一下吧..
我有笔30年按揭贷款,还有24年未还. 现在我想申请一笔利率优惠的住房权益贷款,而不想投一大笔钱进去进行贷款合并.如果今年晚些时候的利率优惠的话,我可能会倾向于将第一笔按揭重贷并缩短为15年. 如果我不是很缺钱用的话,那么这笔住房权益贷款会不会影响到我的重新按揭?

英语翻译
they were underwater,meaning with a mortgage larger than the value of the house.怎么翻译?
There are over 80 million single family homes in America,and it's estimated that in 2011,18 million of these were underwater,meaning with a mortgage larger than the value of the house.
此句话，当何翻译？

spike在这里是什么意思?
A recent spike in mortgage rates has created a new predicament for potential hpmebuyers:Forge ahead and try to lock in now?Or hold off?
注：mortgage（抵押）；predicament（困境）；homebuyers（购房者）.

英语翻译
3.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 July17 ,2008
机翻的请让路

英语翻译
Equilibrium in the Mortgage Security Market
The nature of the equilibrium established in the market for mortgage securities will depend on the competitive conditions in this market.If the market operates in a perfectly competitive fashion,then equilibrium is determined by applying the zero profit condition to equation (1):
(2) P (X) = P s(X) = P (X) + C(x).
This is illustrated in Figure 1 at the quantity X* and the security price P*,implying a mortgage price P' = P* - C(x).
In a forthcoming paper,Hermalin and Jaffee [1995] discuss the competitive conditions in the markets for residential mortgage securitization in the United States.They find that highly competitive conditions exist in the supply of mortgages to the conduits and in the demand for mortgage securities by investors.

英语翻译
the mortgage bankers association
housing repossession
senate banking committe

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.