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Q4 Mortgage Delinquencies Reach All-Time Low
Thursday, February 13, 2020
The fourth quarter report on mortgage delinquencies
from the Mortgage Bankers Association (MBA) continues to show problem loans at
historically low levels. MBA's National Delinquency Survey puts the seasonally
adjusted delinquency rate at 3.77 percent of outstanding loans. This was a 20-basis
point (bp) decline from the previous quarter and a 29 bps year-over-year
improvement. Foreclosure starts were unchanged at a rate of 0.21 percent. "The
mortgage delinquency rate in the final three months of 2019 fell to its lowest
level since the current survey series began in 1979," said Marina Walsh,
MBA's Vice President of Industry Analysis. "Mortgage delinquencies track
closely to the U.S. unemployment rate, and with unemployment at historic lows,
it's no surprise to see so many households paying their mortgage on time."
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