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Home > Housing > Housing News > Mortgage Defaults
Mortgage Defaults
Due to declining sales since 2006 will cause, and higher interest rates have increased mortgage defaults all the way to now, according to some investment advisory firms. Foreclosures.com President Alexis Mcgee said that a lot of one-time fast-rising housing markets are slowing down, espeacially in the west, and that residential real estate is returning to normal. Home prices in some of the nation's best performing areas in recent years have been dropping.
In San Diego, year after year price appreciation has dropped to 6.4%, and sales volume has dropped through our southland. It is said the cause is just market returning to normal from a largely increased market. Sale of existing homes have dropped more than 30% since mid 2005 but is still higher than early 2005.
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