Connecticut Mortgages

February 23, 2010
Matt Isleib

 

Connecticut mortgages that were in default or foreclosure rose in the fourth quarter to 8.06 percent according to the Mortgage Bankers Association. The national average for all mortgages 90 days past due or in foreclosure is presently 9.67 percent.

While Connecticut has not had the default rate of the worst boom then bust housing states like California, Nevada, Florida or Arizona an 8.06 percent rate is still not all that good. As unemployment goes so will these percentages of default or foreclosure. Not until there is stabilization in the work force should we expect housing statistics like these to improve.

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