According to LoanPerformance, San Francisco had the second highest percentage of interest-only loans originated during the first half of 2005. At 53.4%, it was second only to Santa Cruz/Watsonville (54.8%), and almost double the national average of 28.5%. Oakland wasn’t that far behind at 48.8%.
Guess they believe Bob. The good news? 53.4% might be significantly less than previous estimates of nearly 70%.
Boast Busters In The Making [SocketSite]
Interest-only loans meteoric rise in the Bay Area [SocketSite]