Some Delinquency Metrics Fall Are Hitting Historic Levels

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Posted To: MND NewsWire

The delinquency rate for mortgages on one-to-four residential properties fell in the second quarter of 2016 to its lowest rate in exactly ten years while other distress measures are below their 37-year averages. The Mortgage Bankers Association (MBA) said the seasonally adjusted rate was down 11 basis points (bps) from the first quarter to 4.66 percent. This also represented a 64 bps decrease from the rate in the second quarter of 2015. The data, released on Thursday, was taken from MBA’s National Delinquency Survey. The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. These loans, often referred to as the foreclosure inventory, represented 1.64 percent of all mortgage loans, down 10 bps from the first quarter and…(read more)

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