Thursday, March 6, 2008

Late Payments on mortgages reach an all time high

Since the measure started being kept in the mid 80's, the number of mortgages that are currently late are over 7% of all existing mortgages. This is the highest number ever recorded. If you back out the home currently in foreclosure, the number is still over 5%. Since the news of this hit the market, the stock market has dumped over 1%.

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