mortgage default rates: Mortgage Default Rates on the Rise
- 03/04/13 06:26 AM
When you fail to make several payments on your mortgage, your loan is considered to be in default. According to S&P Dow Jones/Experian, mortgage defaults are on the rise nationwide. New information shows an alarming trend among mortgage default rates and a consumer’s overall debt. Consumer debt has increased for three consecutive months since December, reaching 1.72 percent. "The national composite rate was 1.72% in December, eight basis points above the November rate and 26 basis points above September’s post-recession low," said David M. Blitzer, managing director and chairman of the index committee for S&P Dow Jones Indices. "It was primarily driven … (0 comments)
When you fail to make several payments on your mortgage, your loan is considered to be in default. According to S&P Dow Jones/Experian, mortgage defaults are on the rise nationwide. New information shows an alarming trend among mortgage default rates and a consumer’s overall debt. Consumer debt has increased for three consecutive months since December, reaching 1.72 percent.
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