Loan incentives and a long-term trend of rising housing prices encouraged borrowers to assume mortgages, believing they would be able to refinance at more favorable terms later.

• 因为相对来说，按揭贷款人没有（或缺乏足够的）收入/还款能力证明，或者其他负债较重，所以他们的资信条件较“次”，这类房地产的按揭贷款，就被称为次级按揭贷款。