Comment on California's default rate soars to 9.5%

California's default rate soars to 9.5%

Delinquencies in June are up sharply from a year ago, when 6% of borrowers were behind on their loans. About 1 in 10 Californians with a home loan is now in default, and there's growing evidence that the mortgage meltdown is spreading to commercial real estate.

 

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