Mortgage Delinquency Rate May Decrease to 5% in 2011

By Kyle Chezum Updated on 12/7/2010

12/07/2010

TransUnion LLC released a delinquency forecast for the coming year based on 27 million consumer records analyzed, and the news is good.  Delinquent mortgages as a percentage of all mortgages may drop to just 5% before 2012.  The current rate of delinquency is expected to rest around 6.21% by the end of 2010 alone, significantly lower than numbers reported in 2009.

Steve Chaouki, a vice president with TransUnion, says the lowered rate of delinquency will benefit the housing market and help push the economy forward.  "We think that the mortgage industry isn't out of the woods yet, but it's starting to move in a better direction,” he said.

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