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.

For full story, click here.

About The Author:

Kyle Chezum

My name is Kyle Chezum. I'm a Marketing Associate here at Lender411com. If you have any questions, feel free to contact me. Thanks!.

Didn't find the answer you wanted? Ask one of your own.

What You Need To Know About Escrow View More
President Obama Initiates Lower FHA Mortgage Insurance Premiums View More
What is Quantitative Easing? View More
The 5 New Mortgage and Housing Trends for Summer 2013 View More
Fannie Mae profitability skyrockets View More
Foreclosure protections for more soldiers after lawmakers draft bill View More
FHFA: HARP success follows low mortgage rates, February refinance volume strong View More
Use of Mortgage Interest Deduction Depends on Where You Live View More
HUD will sell 40,000 distressed loans in 2013 View More
Mortgage Principal Reduction Could Save Taxpayers $2.8 Billion View More
Mortgage Applications Regain Traction after Sluggishness, Rates Continue to Fall View More
HARP 3.0 Discussions Reveal Little Hope for HARP Update View More
Home Prices Rise in February According to LPS Data View More
Balancing Act: House Committee Hears Opposing Viewpoints Over Mortgage Interest Rate Deduction View More
Near Record Low Mortgage Rates Buoy Housing Recovery View More