One of the trigger points for the financial crisis of 2008 was that subprime borrowers defaulted when the interest on adjustable-rate mortgages went up.

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This statement is true. Many subprime borrowers who had taken out adjustable-rate mortgages were unable to keep up with their payments when interest rates increased, leading to widespread defaults and ultimately contributing to the financial crisis of 2008.

One of the Trigger Points for the Financial Crisis of 2008