Delinquency Rate Drops Below 5 Percent For First Time Since 2007

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From DS News

 

Delinquency Rate Drops Below 5 Percent For First Time Since 2007

The delinquency rate (percentage of residential mortgage loans 30 days or more past due but not in foreclosure) dropped to 4.70 percent for March (approximately 2.38 million loans), the first time the rate has been below 5 percent since August 2007. The rate fell by 12 percent since February, the largest month-over-month decline in nine years.
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