Rising unemployment continues to make more Americans miss their mortgage payments, a negative sign for the U.S. housing market that has lately enjoyed strong data on sales, prices and mortgage applications.
Mortgage delinquencies are driven by three factors,
First, loose underwriting standards are largely a thing of the past, now that lenders demand higher credit scores and are more careful to verify income.
Second, home prices are stabilizing, or even rising, in some U.S. markets, which puts l…
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Posted on September 5, 2009 at 6:52pm —