Thursday, July 21, 2011

Mortgage Default Rates Keep Falling

Despite fears over the country’s housing market, the rate of defaults is declining; it has dropped 3.5% since its peaks in May 2009 and seems to defy all other indicators. The 2nd quarter of this year was the best quarterly performance since 2007 and if it continues to decline at the current rate, it will soon be at 2004-06 levels.

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