St Louis Real Estate Search

Mortgage Default Rate Hits Lowest Level In Almost Eight Years

Indicating continued stabilization of the housing market, the first mortgage default rate dropped in April to 1.01%, the seventh-consecutive monthly decline and the lowest level seen since July 2006, according to the just-released S&P/Experian Consumer Credit Default Indice report.  In April, 2013, the  first mortgage default rate was 1.31%.

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