The subprime mortgage crisis in the US from 2007-2010 was caused by giving mortgages to risky borrowers, leading to a banking crisis, financial crisis, and the Great Recession. Private lenders issued most of these risky mortgages. Some families got small FHA-backed mortgages, while others rented due to limited credit options. Homeownership was around 65%, foreclosure rates were low, and home prices were influenced by mortgage rates and income levels.