Month Approximate Amount of Mortgages Resetting to Higher Rates January 2007 $27 trillion February 2007 $23 trillion March 2007 $26 trillion April 2007 $38 trillion May 2007 $38 trillion June 2007 $38 trillion July 2007 $44 trillion August 2007 $44 trillion September 2007 $48 trillion October 2007 $50 trillion November 2007 $46 trillion December 2007 $41 trillion January 2008 $44 trillion February 2008 $32 trillion March 2008 $37 trillion April 2008 $46 trillion May 2008 $40 trillion June 2008 $32 trillion July 2008 $35 trillion August 2008 $37 trillion September 2008 $30 trillion October 2008 $18 trillion November 2008 $14 trillion December 2008 $12 trillion