Saturday, January 12, 2008

2008 MARKET UPDATE - PMI RISK INDEX FAVORABLE

The PMI Group, which provides residential mortgage insurance for mortgage lenders, released a report this month detailing the probability of falling prices in the nation’s top 50 housing markets, based on its delinquencies and exposure in each of these markets. And while markets like Riverside, CA (94% chance of declining prices) and Las Vegas, NV (89% chance of declining prices) made the headlines, Denver was tucked away at the bottom of the report with just a 1% chance of further price erosion over the next two years.