Mortgage Default Rates Hit Post-Recession Lows in June

July 17, 2013
MortgageOrb.com  
mortgage lending news

Americans are defaulting on their mortgages at the lowest pace since the recession, based on the S&P/Experian Consumer Credit Default Indices. According to the data, the default rate for first mortgages dropped to 1.23 percent last month from 1.31 percent in May; while defaults on second mortgages slipped to 0.54 percent -- a historic low -- from 0.60 percent over the same period.
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