It was inevitable that the nation’s mortgage crisis would affect Wichita. Fortunately, it still isn’t hitting locally as hard as it is elsewhere, thanks to a stronger economy, steadier housing market and more conservative lending practices. Nearly 16 percent of subprime loans in the Wichita area were delinquent in June and more than 6 percent were in foreclosure, The Eagle reported. That’s high, though below the national rates and not significantly higher than the previous year’s rates. The big jump locally is in so-called Alt-A or “stated income” loans, which had foreclosure and delinquency rates in June that were twice what they were in June 2007.
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