Monday, October 31, 2005

Mortgage Defaults on the Rise in California

Mortgage defaults in California rose for the first time in more than three years during the third quarter, as slower price gains and riskier loans gave struggling homeowners less margin for error, data released Thursday showed. A separate report released Thursday showed other signs of a cooling housing market, as inventories of unsold new homes nationwide rose to a record. During the July-September ...


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