U.S. Residential Mortgage Performance Index: Cumulative Default Rates Are Leveling Off, But Later-Vintage Loans Still Face A Long Road Ahead
Cumulative default rates among U.S. residential mortgage loans continued to level off in third-quarter 2011, furthering improvements that began at the start of the year. Loans that were originated in 2006 and 2007 still have the highest default rates, but performance within these two vintages has improved in recent months. Given myriad factors, however, it’s still too soon to accurately assess whether these trends will continue. Read more.
