Friday, May 10, 2013

60 Days Plus Delinquent Mortgages Drop To 4.56%

In the housing industry we all know how ever important a FICO score can be for your ability to purchase the home of your dreams.

One of the credit bureaus responsible for calculating your FICO score, TransUnion, reported a nice dive in the national mortgage delinquency rate! They should know!

The report includes mortgages that are 60-plus days delinquent. And, it's been keeping track since 1992! Nationwide the percentage is 4.56. That's a TWENTY-ONE percent decline from a year ago and a twelve percent decrease from the 4th quarter of 2012.

Tim Martin, Group VP of U. S. Housing in TransUnion's financial services business unit said: "We certainly expected improvement this quarter, as the housing sector is in recovery, but the magnitude of the improvement was unexpected."

The improvement in itself, I would think, speaks volumes about homeowner confidence. 

What do you think?

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