By Jody Shenn Feb. 8 (Bloomberg) — U.S. prime jumbo mortgages backing securities at least 60 days late rose to 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for “serious delinquencies,” according to Fitch Ratings. “The trend line for delinquencies indicates the 10 percent level could be reached as early as next month,” Vincent Barberio, a Fitch managing director in New York, said today in a statement. The rate of non-performing loans almost tripled in 2009. Jumbo home-loans are larger than government-supported mortgage companies Fannie Mae or Freddie Mac can finance. Their limits now range from $417,000 in most places to as much as $729,750 in high-cost areas. To contact the reporter on this story: Jody Shenn in New York at jshenn@bloomberg.net .
Read more:
Jumbo Mortgage `Serious Delinquencies’ Rose to 9.6% Last Month, Fitch Says
{ 0 comments }
