The current mortgage loan bill S. 2636, lenders say it would ultimately hurt homeowners by raising loan costs for all
http://www.npr.org:80/templates/story/story.php?storyId=54917288

As the Cato Institute's Alan Reynolds points out, foreclosures have not been limited to low-income families with sub-prime adjustable-rate mortgages. Reynolds, citing the Mortgage Bankers Association, notes that "prime mortgages (mostly fixed-rate) accounted for 45 percent of all foreclosures in the third quarter of last year, while sub-prime ARMs accounted for 43 percent."http://www.urbancure.org/article.asp?idCategory=3&idsub=1&id=3089&t=Housing+market+doesn%27t+need+more+government

Alan Reynolds says some useful points that usually don’t appear in the crisis-obsessed media. Here are what Alan believes are the rough stylized facts:

Most foreclosures are prime, not subprime. Half of subprime mortgages are fixed, not ARMs.
(more points at the link below)

http://www.cato-at-liberty.org/2008/01/24/background-on-mortgage-markets/