Mortgage Delinquencies Continue to Improve

Dennis Norman, St Louis REALTOR

The housing market continues to show signs of recovery, today with the report by S&P/Experian  showing that their credit default index for first mortgages fell by 12 percent in the past year and by over 20 percent (20.8%) for second mortgages during the same period.  While this may not be that exciting of a topic or seem like such a big deal to some, given the fact that mortgage delinquencies are a leading indicator of foreclosures and, over the past few years, foreclosures have pommelled some neighborhoods all but destroying home values, this is really huge from a big picture standpoint.

mortgage delinquencies

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