Putting two and two together

It seems like Arizona has a high percentage of sub-prime loans but ranks 40th in late payments. This means that Arizona has a strong job market and are able to manage their mortgages. Another possibility is that the full effect of the sub-prime loan crisis hasn’t transpired here in Arizona yet. I think it’s the former not the latter.

Ariz. ranks No. 2 in high-interest mortgages: “zona ranks No. 2 in the country for the highest percentage of subprime loans, those risky, high-interest mortgages that grabbed national headlines last week with the announcement that delinquencies and defaults are rising.”

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