Thursday, November 19, 2009

Record Mortgage Delinquencies/Foreclosures

From Calculated Risk:
"The MBA reports a record 14.4 percent of mortgage loans were either one payment delinquent or in the foreclosure process in Q3 2009. This is an increase from 13.2% in Q2 2009."

It is hard to see how the recession has ended when residential delinquencies and foreclosures continue to grow and when commercial real estate has just begun its (likely to be) catastrophic collapse...

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