A Foreclosure Graphic Is Worth 1,149 Words

A graphic is worth a thousand words. Therefore, I'll just add a few of my own: This graphic from The Wall Street Journal illustrates exactly why mortgage rates are rapidly increasing for homeowners with risk in their borrowing profile, but holding steady for everyone else. Sub-prime, and now Alt-A, are showing signs of major losses to investors. Rates are higher for new sub-prime and Alt-A mortgage applicants because the former applicants are defaulting at a very high rates. This is...

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[Source: The Mortgage Reports Blog]