MBA: "Delinquencies and Foreclosures Continue to Drop" in Q2

From the MBA: Second Quarter Delinquency Rate Lowest in Ten Years The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased 11 basis points to a seasonally adjusted rate of 4.66 percent of all loans outstanding at the end of the second quarter of 2016 . This was the lowest level since the second quarter of 2006. The delinquency rate was 64 basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey. The percentage of loans on which foreclosure actions were started during the second quarter was 0.32......(read more)

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