Home Mortgage Hijinks

Jon Christian Ryter / NewsWithViews.com:
The home mortgage default and foreclosure figures are in for February. The Bush Administration was not anxious to release them. The figures don't look good. The home mortgage crisis has become contagious. It's spreading from the subprime home market into the prime loan market. Approximately 2.3% of the holders of prime rate mortgages were at least 60 days late. That number is up 1.4% from a year ago. It is the highest level of delinquencies from prime rate borrowers in a decade. Prime rate mortgages are given only to the "A" list of credit worthiness.

Posted by Editor at May 14, 2008 03:39 AM