(Reuters) - In a paper examining mortgage activity in the Fed's 7th District, economists Sumit Agarwal and Calvin Ho cited Michigan and Indiana as states where delinquency rates have been running as high as twice the national average.
"Indiana and Michigan, which have experienced slowdowns in the manufacturing sector, have reported higher rates of delinquencies ... in both prime and subprime mortgage markets," they said.
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"Indiana and Michigan, which have experienced slowdowns in the manufacturing sector, have reported higher rates of delinquencies ... in both prime and subprime mortgage markets," they said.
Read more at Reuters.com Bonds News
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