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Mortgage Defaults Stabilizing in US

0 Comments Published September 25th, 2007 in Borrowers, The Fed.

The Associated Press is reporting that default rates in the US mortgage market are stabilizing.  It seems unlikely that the recent Fed rate cut will do much to affect this number.  Only about 5 percent of all US mortgages are subprime and only about 1/5 of those loans are in default, or around 1% of all US mortgages.

Find more subprime information from Google

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« Fortress’ Nationstar Mortgage Halts New Applications
Citigroup (NYSE: C) Announces Credit Writedowns »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

Mortgage Lender Implode-o-Meter






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