Toronto Star (04/01/08)
The housing crisis may be deepening, according to new figures from the Mortgage Insurance Cos. of America in Washington, D.C. The data reveals that defaults on privately insured U.S. mortgages rose for the 14th consecutive month, this time by 38 percent in February. The number of insured borrowers who fell more than 60 days behind on payments was 60,911, which is up from 44,111 a year earlier. Consumers are having more problems paying their debts, and the decline in property values has led homeowners to spend less.
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