<P> High mortgage approval rates led to a large pool of homebuyers , which drove up housing prices . This appreciation in value led large numbers of homeowners ( subprime or not ) to borrow against their homes as an apparent windfall . This `` bubble '' would be burst by a rising single - family residential mortgages delinquency rate beginning in August 2006 and peaking in the first quarter , 2010 . </P>
<P> High mortgage approval rates led to a large pool of homebuyers , which drove up housing prices . This appreciation in value led large numbers of homeowners ( subprime or not ) to borrow against their homes as an apparent windfall . This `` bubble '' would be burst by a rising single - family residential mortgages delinquency rate beginning in August 2006 and peaking in the first quarter , 2010 . </P>
when did the financial crisis start in 2008
when did the financial crisis start in 2008
beginning in August 2006
beginning in August 2006