According to Fitch Ratings, the prime jumbo mortgages at least 60 days late rose to 9.6% in January. The December 2009 rate was 9.2%.
January 2010 represents the 32nd consecutive monthly increase for “serious delinquencies”. A jumbo mortgage has an initial principal amount of $417,000 conventional limit set by Fannie Mae and Freddie Mac. In higher priced markets, the limit is $729,750.
Fitch Ratings states delinquency rate could hit 10% during the next month.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment