Past-due mortgage delinquencies rise in late 1994
Mortgage delinquencies increased to 15 percent in the final quarter of 1994 according to the Mortgage Bankers Association. Warren Lasko cited higher interest rates and slower refinancings as key factors, with the overall rate at 4.21 percent in Q2 and rising from a 21-year low. The survey covers about 19 million one to four unit homes, showing mainly days-late loans driving the uptick.
MENTIONED IN THIS ARTICLE
Washington
Trade Association
Warren Lasko
The
Mortgage Bankers Association
Lasko
Association
Association Econopera i Leread
Onl
Daily market roundup WOW Plute data snippet
Market roundup notes daily values with December 1 1994 close at 3962.63 up 34.93. Mentions high near 5935.31 on February 24 1995 and dates 1/1/95 3/1/95 with figures 4011.74 3950 3810 3740 3670.
Orange County to cut work force 10 percent
Orange County chief executive William J. Popejoy announced a more than 10 percent workforce reduction for the coming year to balance the budget. The plan calls for 1,040 layoffs and 563 unfilled positions out of 15,000 employees, amid a $1.7 billion loss in the county investment pool and bankruptcy. The budget includes library closures, a large landfill shutdown, mental health cuts, and reduced public safety funding.
MENTIONED IN THIS ARTICLE
Santa Ana
Calif
Orange County
William J. Popejoy
Merrill Lynch
Robert L. Citron
Citron
Merrill
Popejoy
John Sawyer
Orange County Employees Association
John M.W. Moorlach
Moorlach
Robert L
Bob
Salomon Bros
Sitrick & Co
Charles Ng
California
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