Monday, January 5, 2009

California and Florida Account For Half of the Alt-A mortgage market

According to the New York Fed, as of November 2008 there was $705 Billion of Alt-A Loans outstanding with 42% of those loans coming from California and 9% of the mortgages coming from Florida---Two States which are experiencing some of the steepest drops in home prices.

Additionally, New York accounted for 5% of Alt-A loans, while New Jersey, Virginia and Washington accounted for 3% each... The remaining 44 states accounted for the remaining 35% Alt-A mortgages.

No comments:

Post a Comment