Posted To: MND NewsWire
Most of the categories covered by the Mortgage Bankers Association’s (MBA’s) 1 st quarter National Delinquency Survey are now back to pre-housing crisis levels. In the case of foreclosure starts, the results were the lowest since the second quarter of 2000 . The delinquency rate for mortgage loans on one-to-four unit residential properties were down 77 basis points (bps) from a year earlier to 4.77 percent of all loans outstanding. This was the lowest level since the third quarter of 2006 and unchanged from the fourth quarter of 2015. The delinquency rate includes loans that are one payment or more past due but not those that are in the process of foreclosure. That rate (frequently called the foreclosure inventory) was 1.74 percent for the quarter, down 3 bps from the previous quarter and 48…(read more )