Wood News

Mortgage delinquency rates in the fourth quarter drop to lows not seen in several years

PORTLAND, OR , Feb. 25, 2013 (RISI) - 

The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally adjusted rate of 7.09% of all loans outstanding at the end of the fourth quarter of 2012, the lowest level since 2008, a decrease of 31 basis points from the previous quarter, and down 49 basis points from 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 fourth quarter was 0.70%, the lowest level since the second quarter of 2007, down 20 basis points from last quarter and down 29 basis points from one year ago.

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