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Mortgage delinquencies soar... Now at all-time high
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Tuesday, November 17, 2009
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From 24/7 Wall Street:

Mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 11th straight quarter, hitting an all-time national average high of 6.25 percent for the third quarter of 2009, according to credit rating firm TransUnion. At the current rate, delinquencies would hit a one-year high this year.

Delinquencies are a good predictor of foreclosures, so TransUnion expects that figure to rise as well.

It is not a surprise, based on past data, that...

Read full article...

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Topics: Mortgages | Housing | Real Estate
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