MBA: Mortgage Delinquency Rates declined in Q2

The serious delinquency rate (90 days or more past due or in the process of foreclosure), was 3.11%, a decrease of 18 basis points compared with the first quarter and a decrease of 84 basis points compared with one year earlier.

according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. It was the lowest level since the third quarter of 2006, the MBA reports. What’s more, it was 77 basis points lower.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.58 percent as of the end of Q2, an increase from 7.40 in Q1. It is typical for delinquency rates to increase between the first and second quarters of the year.

Since the first quarter of 2005, the SA delinquency rate decreased 29 basis points for subprime loans and 25 basis points for VA loans, whereas the rate increased 3 basis points for prime loans and 64 basis points for FHA loans, said MBA.

 · The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.58 percent as of the end of Q2, an increase from 7.40 in Q1. It is typical for delinquency rates to increase between the first and second quarters of the year.

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 · The national mortgage delinquency rate continued its unprecedented decline in 2013, dropping to 4.09% in Q2 2013, nearly 26% lower versus the same time last year. Since last quarter, the mortgage.

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 · NEW YORK (CNNMoney.com) — Mortgage delinquency rates dropped in the last three months — but only because more borrowers had their homes repossessed. You can’t be late on your mortgage payment if.

Four percent of mortgages were in some stage of delinquency in February, according to new data from CoreLogic. This represents a 0.8 percentage point decline. the Mortgage Bankers Association (MBA).

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 · According to the report, Texas and Florida appear to have hit their peak delinquencies following the storms. Texas’ non-seasonally adjusted overall mortgage delinquency rate dropped by 171 basis points to 5.62% in Q1. Prior to Harvey, in the Q2 2017, the rate was 5.05%. florida underwent a 230 basis point drop this quarter, hitting 6.59%.

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