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National Mortgage Loan Delinquency Rates Improve in First Quarter
National Mortgage Loan Delinquency Rates Improve in First Quarter
National Mortgage Loan Delinquency Rates Improve in First Quarter
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May 18, 2011 (Jeff Alan)

The national mortgage delinquency rate decreased to 6.19 percent in the first quarter of 2011 according to credit giant TransUnion. Loans in which borrowers were 60 days or more past due declined for the fifth consecutive quarter and TransUnion predicts that delinquencies are expected remain flat or slow in their decline despite the continuing decline in housing prices.

“Decreasing home prices can be risky because they exert upward pressure on mortgage delinquency rates. The fact that mortgage delinquency continues to decline despite this situation demonstrates that today’s borrowers are less risky,” said Tim Martin, group vice president of the U.S. Housing Market in TransUnion’s financial services business unit. “While many homeowners still face pressure to make ends meet, they have lived in their homes for a long time and have diligently been paying their mortgage each month. These are borrowers that have roots in their residential neighborhoods and may already have substantial equity invested.”

TransUnion also reported that its 90-day Real Estate Inquiry Index dropped to its second lowest value of 26.04 in the first quarter of 2011. The index was created in 2000 and measures the demand for real estate credit.

“Until consumer confidence improves, and housing prices stabilize, demand for real estate credit will continue to remain sluggish,” said Martin.

The mortgage delinquency rate decreased 3.4 percent in the first quarter of 2011 in comparison to the fourth quarter of 2010 and is down almost 8.6 percent from the year before and as a sign of growing improvement, sixty-eight percent of metropolitan statistical areas (MSA) in the U.S. experienced a decline in mortgage delinquency rates in the first quarter compared to only 44 percent last quarter.

The states with the highest mortgage delinquency rates in the first quarter were Florida (14.37%) and Nevada (14.19%), while the states with the lowest mortgage delinquency rates were North Dakota (1.54 %) and South Dakota (2.53%).

Tags: TransUnion, mortgage delinquency rate, housing price decline, real estate credit, consumer confidence

Source:
TransUnion

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Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

May 18, 2011 (Jeff Alan)

The national mortgage delinquency rate decreased to 6.19 percent in the first quarter of 2011 according to credit giant TransUnion. Loans in which borrowers were 60 days or more past due declined for the fifth consecutive quarter and TransUnion predicts that delinquencies are expected remain flat or slow in their decline despite the continuing decline in housing prices.

“Decreasing home prices can be risky because they exert upward pressure on mortgage delinquency rates. The fact that mortgage delinquency continues to decline despite this situation demonstrates that today’s borrowers are less risky,” said Tim Martin, group vice president of the U.S. Housing Market in TransUnion’s financial services business unit. “While many homeowners still face pressure to make ends meet, they have lived in their homes for a long time and have diligently been paying their mortgage each month. These are borrowers that have roots in their residential neighborhoods and may already have substantial equity invested.”

TransUnion also reported that its 90-day Real Estate Inquiry Index dropped to its second lowest value of 26.04 in the first quarter of 2011. The index was created in 2000 and measures the demand for real estate credit.

“Until consumer confidence improves, and housing prices stabilize, demand for real estate credit will continue to remain sluggish,” said Martin.

The mortgage delinquency rate decreased 3.4 percent in the first quarter of 2011 in comparison to the fourth quarter of 2010 and is down almost 8.6 percent from the year before and as a sign of growing improvement, sixty-eight percent of metropolitan statistical areas (MSA) in the U.S. experienced a decline in mortgage delinquency rates in the first quarter compared to only 44 percent last quarter.

The states with the highest mortgage delinquency rates in the first quarter were Florida (14.37%) and Nevada (14.19%), while the states with the lowest mortgage delinquency rates were North Dakota (1.54 %) and South Dakota (2.53%).

Tags: TransUnion, mortgage delinquency rate, housing price decline, real estate credit, consumer confidence

Source:
TransUnion

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

May 18, 2011 (Jeff Alan)

The national mortgage delinquency rate decreased to 6.19 percent in the first quarter of 2011 according to credit giant TransUnion. Loans in which borrowers were 60 days or more past due declined for the fifth consecutive quarter and TransUnion predicts that delinquencies are expected remain flat or slow in their decline despite the continuing decline in housing prices.

“Decreasing home prices can be risky because they exert upward pressure on mortgage delinquency rates. The fact that mortgage delinquency continues to decline despite this situation demonstrates that today’s borrowers are less risky,” said Tim Martin, group vice president of the U.S. Housing Market in TransUnion’s financial services business unit. “While many homeowners still face pressure to make ends meet, they have lived in their homes for a long time and have diligently been paying their mortgage each month. These are borrowers that have roots in their residential neighborhoods and may already have substantial equity invested.”

TransUnion also reported that its 90-day Real Estate Inquiry Index dropped to its second lowest value of 26.04 in the first quarter of 2011. The index was created in 2000 and measures the demand for real estate credit.

“Until consumer confidence improves, and housing prices stabilize, demand for real estate credit will continue to remain sluggish,” said Martin.

The mortgage delinquency rate decreased 3.4 percent in the first quarter of 2011 in comparison to the fourth quarter of 2010 and is down almost 8.6 percent from the year before and as a sign of growing improvement, sixty-eight percent of metropolitan statistical areas (MSA) in the U.S. experienced a decline in mortgage delinquency rates in the first quarter compared to only 44 percent last quarter.

The states with the highest mortgage delinquency rates in the first quarter were Florida (14.37%) and Nevada (14.19%), while the states with the lowest mortgage delinquency rates were North Dakota (1.54 %) and South Dakota (2.53%).

Tags: TransUnion, mortgage delinquency rate, housing price decline, real estate credit, consumer confidence

Source:
TransUnion

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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