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By Dennis Norman, on January 17th, 2012
Mortgage delinquencies in December increased to 2.24 percent of all mortgages, a slight increase from the month before when delinquencies were at 2.22 percent but a decrease of over 25 percent from a year ago when the rate was 3.01 percent. The mortgage delinquency rate is something I pay close attention to because it is the “leading indicator” of foreclosures and foreclosures and REO’s are one of the major hurdles to a recovery in the housing market. Declining delinquency rates are our first clue that the housing market is headed to a recovery. [...]
By Dennis Norman, on February 17th, 2011 The Mortgage Bankers Association released the results of it’s National Delinquency Survey for the 4th quarter of 2010 and it shows very mixed results. On the positive side of things, overall mortgage loan delinquency in the U.S. has dropped to 8.22 percent which is the lowest rate since 4th quarter 2008 when the rate was [...]
By Dennis Norman, on November 1st, 2010
Dennis Norman
Finally, some more good news about the housing market! TransUnion released a study of mortgage delinquency “roll rates” (when delinquent borrowers move to a more delinquent status, say from 30 days late to 60 days late, then 90 and so on) which showed that mortgage delinquency roll rates peaked in the summer [...]
By Dennis Norman, on August 19th, 2010
Dennis Norman
For some time now I’ve been saying the precursor to the housing market recovering is for the mortgage delinquency and foreclosure rates to fall from the present, near-record levels, down to closer to historical norms. The current mortgage loan delinquency report from TransUnion shows that, for the second consecutive quarter, things are [...]
By Dennis Norman, on July 20th, 2010
Dennis Norman
Finally, some good news!
This morning Standard & Poor’s released their S&P/Experian Consumer Credit Default Index for June showing that first-mortgage default rates declined 5 percent from the month before and were down 45.2 percent from a year ago.
I have been saying for a while, we are not going to see [...]
By Dennis Norman, on November 20th, 2009 Missouri ranks 21st in delinquencies and 30th in foreclosures
According to a report just issued by the Mortgage Bankers Association, the mortgage delinquency rate on one-to-four-unit residential properties in the U.S. rose to a new record rate of 9.64 percent. Here in Missouri, the delinquency rate is slightly lower at 9.41 percent.
Included in the MBA’s [...]
By Dennis Norman, on November 10th, 2009
Dennis Norman
Foreclosure rates in St. Louis increased for the month of September over the same period last year according to a report released by First American CoreLogic. The report showed the St. Louis metro area to have a foreclosure rate of 1.26 percent in September, up just slightly from August’s rate of 1.24 percent, but [...]
By Dennis Norman, on October 8th, 2009 Dennis Norman
By Dennis Norman
Foreclosure rates in St. Louis increased for the month of August over the same period last year according to a report released today by First American CoreLogic. The report showed the St. Louis metro area to have a foreclosure rate of 1.24 percent in August, up just slightly from July’s rate of [...]
By Dennis Norman, on September 10th, 2009 Dennis Norman
By: Dennis Norman
Anyone that follows any of my posts on various real estate blogs may well be getting tired of hearing me talk about foreclosure and mortgage delinquency rates. This is no doubt especially true when I am doing it in the context of trying to “chill” the excitement over recent “good” news on the [...]
By Dennis Norman, on August 22nd, 2009 Dennis Norman
By: Dennis Norman
All the news lately about the housing market, home sales in particular, has been encouraging and showing signs of stabilization in the real estate market and demonstrating that the real estate market may have seen the worst. Just when you think you may be through the storm though you [...]
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