Wednesday, March 10, 2010
11:12 AM Texas Time
Risk of Default Drops
University of Michigan report cites improvement in home depreciation
A report announced by the University of Michigan's Ross School of Business indicated that the risk of mortgage defaults declined between the fourth-quarter 2009 and the first-quarter of this year.
It was the lowest point for the index since 2005.
The index reportedly measures the risk of default on newly originated mortgages by tracking local and national economic conditions.
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