Mortgage default rates were low from the mid 1990's through 2006 because home prices were rising and lenders allowed borrowers who were having difficulty making payments to refinance on the built up home equity.

Question

Quizplus · Accepted Answer

This statement is true. The combination of rising home prices and lenient refinancing policies allowed borrowers to avoid defaulting on their mortgages during this time period.

Mortgage Default Rates Were Low from the Mid 1990's Through