Mortgage Default Rates Improve In June

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 any sort of sustainable recovery of the housing market until we see mortgage delinquency and default rates decline thereby bringing down the foreclosure rate and ultimately easing the downward pricing pressure on the housing market caused by foreclosures.  Maybe, just maybe, this is the beginning of the trend for such a decline in delinquencies.  Let’s hope we see similar declines in the coming months.

 

Related posts:

1. Foreclosures in St. Louis Increase 50 Percent in July from a Year Ago; Mortgage Delinquencies Follow Suit
2. Almost 1 in 8 Missourians are delinquent on mortgage payments according to MBA report
3. Report shows mortgage delinquency ‘Roll Rates’ peaked in summer of 2009; Sign that worst is over?
4. Mortgage Defaults Increase In November
5. Mortgage Delinquences Increase in December but are Down over 25 percent from a year ago

261 comments to Mortgage Default Rates Improve In June

The owner and authors this site are providing the information on this web site for general informational purposes only and make no representations, warranties (expressed or implied) or guarantees of any kind whatsoever, as to the accuracy or completeness of any information on this site or of any information found by following any link on this site. Furthermore, the owner and authors of this site will not be liable in any manner whatsoever for any errors or omissions in information on this site, nor for the availability of this information. Additionally the owner and authors of this site will not be liable for for any losses, injuries or damages in any way from the display or use of this information or as the result of following external links displayed on this site, or by responding to advertisements displayed, or contained, on this site In using this site, users acknowledge and agree that the information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.
All of the information on this site is provided as is, with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
This site contains external links to other sites not owned or controlled by the owner of this site, therefore the owner of this site does not control or guarantee in any manner the accuracy or relevancy of any information obtained through following such links. Links contained on this site are for users convenience and users should exercise extreme caution when following links. Including a link on this site does not constitute an endorsement of the site linked to or any views or opinions expressed on the site, products or services offered on outside sites or the companies or organizations that own and operate outside sites.
This site may accept payment for advertising, for displaying advertisements, through affiliate relationships with companies or may receive referral fees or commissions from companies as a result of recommending or referring people to a website. This site may also accept free product samples, free services, gift cards or cash to review a product or service. All paid and sponsored content may not always be identified as such. Any product claim, quote or other representation about a product or service should be verified with the manufacturer or provider.