Foreclosures are Normal Levels Now

From DS News

 

MBA: Delinquencies, Foreclosures Recede to More 'Normal' Levels

The percentage of homeowners behind on their mortgage fell to the lowest level since 2008, with a decrease in 90-plus delinquencies driving the improvement, according to a report from the Mortgage Bankers Association (MBA). On a seasonally adjusted basis, the national mortgage delinquency rate on one-to-four unit residences stood at 6.96 percent in the second quarter, a decrease from 7.25 percent in the first quarter and 7.58 percent a year ago. "For most of the country, delinquencies and foreclosures have returned to more normal historical levels," said Jay Brinkmann, MBA's chief economist and SVP of research and economics. » Read More

 

- Sunil Sethi

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