Top 10 Markets With Highest Mortgage Risk, Summer 2007
June 20th, 2007 • Related • Filed Under
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The PMI Group has come out with their summer analysis of the metropolitan regions that have the highest risk of housing losing it’s value in the next two years. The Riverside region of California is leading the way followed closely by Phoenix and Las Vegas. All 3 of these regions experienced huge housing gains in 2004 and 2005 so expectations of a flat or negative period are not expected.
PMI Group is one of the largest underwriters of Private Mortgage Insurance so it is in their best interest to know and understand markets and calibrate their PMI rates to counter the risk that is faced.
Top 10 Markets With Highest Mortgage Risk, Summer 2007
- Riverside-San Bernardino-Ontario, CA (652)
- Phoenix-Mesa-Scottsdale, AZ (646)
- Las Vegas-Paradise, NV (614)
- West Palm Beach-Boca Raton-Boynton Beach, FL (607)
- Los Angeles-Long Beach-Glendale, CA (586)
- Santa Ana-Anaheim-Irvine, CA (577)
- Oakland-Fremont-Hayward, CA (572)
- Orlando-Kissimee, FL (563)
- Sacramento-Arden-Arcade-Roseville, CA (560)
- San Diego-Carslbad-San Marcos, CA (555)
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Comment by Neal on 2 October 2007:
I’m surprised other parts of Broward were not on this list…we have deals falling through quite a bit.