(Reuters) - The findings are based on consumer credit files from the
credit bureau Equifax and cover 200 metropolitan areas in the
United States.
Moody's Economy.com said the subprime adjustable-rate
mortgage, or ARM, segment will be the hardest hit, with the
in-foreclosure rate forecast to hit 10 percent by mid-2008, up
from the current 4 percent. For comparison, the previous peak
of 6 percent was reached soon after the September 11, 2001,
terrorist attacks, after which the rate fell to a low of 2.5
percent in the summer of 2005.
Read more at Reuters.com Bonds News
credit bureau Equifax and cover 200 metropolitan areas in the
United States.
Moody's Economy.com said the subprime adjustable-rate
mortgage, or ARM, segment will be the hardest hit, with the
in-foreclosure rate forecast to hit 10 percent by mid-2008, up
from the current 4 percent. For comparison, the previous peak
of 6 percent was reached soon after the September 11, 2001,
terrorist attacks, after which the rate fell to a low of 2.5
percent in the summer of 2005.
Read more at Reuters.com Bonds News
No comments:
Post a Comment