Bad Debts Increase
Residential mortgage loan arrears are at their highest level since 1996 according to ratings agency Standard & Poors. S&P said loans that were behind by 30 days or more rose to 1.21 per cent at the end of January. Increasing numbers of low-doc loans, which have a higher default rate were balmed for the increase.
1 Comments:
This is why I have hedged with more gold and silver.
Cheers from Canada
8:16 PM
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