TransUnion: Mortgage
Delinquencies Fall Nearly 17 Percent
TransUnion's data show mortgage delinquencies down to 3.36 percent for the third quarter -- still above historic norms but improving. The decline of almost 17 percent from a year earlier represents a downward pattern that has stretched out for the last 11 quarters in a row. Major markets like Miami, San Francisco, Phoenix, and Los Angeles were among the areas making the biggest strides. "It's especially heartening to see major declines in areas that were hardest hit by the mortgage crisis," said TransUnion executive Joe Mellman. "In part, it speaks to the broader rebound in the economy. As unemployment continues to decline and home values improve, consumers have both greater wherewithal and motivation to stay current on their housing payments."
From "TransUnion: Mortgage Delinquencies Fall Nearly 17 Percent"
Housing Wire (11/18/14) Swanson, Brena
TransUnion's data show mortgage delinquencies down to 3.36 percent for the third quarter -- still above historic norms but improving. The decline of almost 17 percent from a year earlier represents a downward pattern that has stretched out for the last 11 quarters in a row. Major markets like Miami, San Francisco, Phoenix, and Los Angeles were among the areas making the biggest strides. "It's especially heartening to see major declines in areas that were hardest hit by the mortgage crisis," said TransUnion executive Joe Mellman. "In part, it speaks to the broader rebound in the economy. As unemployment continues to decline and home values improve, consumers have both greater wherewithal and motivation to stay current on their housing payments."
From "TransUnion: Mortgage Delinquencies Fall Nearly 17 Percent"
Housing Wire (11/18/14) Swanson, Brena
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