Welcome to Traverse City Area Real Estate Sign in | Help

Traverse City Real Estate Blog

Traverse City Real Estate Blog, Traverse City real estate information, Traverse City area events and information, real estate market information

Archives

Number of deliquent mortgages declines

The number of delinquent mortgages declined 8.6 percent in March, says LPS Applied Analytics, which tracks the performance of loans for investors. Totals also declined in February.

The biggest decline was in loans more than 30 days past due, which are now at about the same level as they were in spring 2008.

"We're not out of the woods, but this appears to be a turning point," says LPS Applied Analytics President Ted Jadlos. "This is the first time we've seen improvement across all stages of mortgage delinquency."

Source: The Wall Street Journal, Ruth Simon (04/19/2010)


The percentage of delinquent mortgages declined to 6.57 percent in the first quarter from 6.60 in the last quarter of 2009, according to Equifax and Moody’s Economy.com.

This is the first decline in the delinquency rate since the first quarter of 2006.

"It portends a peaking of the foreclosure crisis," says Mark Zandi, chief economist for Moody’s.

Reasons for the decline include tougher lending standards, mortgage modification efforts and a more stable job market, economists say.

Source: USA Today, Stephanie Armour (04/14/2010)

Jon Becker - Century 21 Northland

231-342-5401

jon@c21jb.com

www.c21jb.com

 

Click here for all Traverse City real estate  listings and local information

 

 

 

Posted: Monday, April 19, 2010 3:35 PM by Jon Becker
Leave a Comment

(required)

(required)

(optional)

(required)

Comment Notification

Subscribe to this post's comments using RSS