but that's the way mortgages go ever since.

这是抵押贷款的演变过程
We have to--what we've seen recently--

我们最近看到了
we had more government

我们不得不让政府
intervention back then in the mortgage industry.

更多地来干预抵押贷款行业
Since the 1990s,

从20世纪90年代
we've seen a proliferation of new kinds of mortgages that

我们看到一种新型抵押贷款在快速发展
especially are offered to low-income people by certain lenders.

它由特定贷款人向低收入人群发放
We've had a growth in popularity of ARMs,

我们看到了ARMs贷款的发展和普及
which are adjustable rate mortgages.

ARMs是指可调利率抵押贷款
Adjustable rate mortgages have a long term

可调利率抵押贷款的期限很长
--they might last for thirty years

也许会长达30年
--but the interest rate is not fixed for the whole thirty years.

但是利率在30年间并不是固定的