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Mortgage Delinquency Rate Down 37%

Mortgage News > Mortgage Delinquency Rate Down 37%
Date: 06/27/2012    Mortgage Delinquency Rate Down 37%

Mortgage delinquency balances have dropped from their peak of $700 billion in January 2010 to the current balance of $450 billion that was recorded and reported in May of this year by Equifax in their June National Consumer Credit Trends Report.

Equifax’s chief economist Amy Crews Cutts is optimistic about the present trend. “That severe mortgage delinquencies are trending downward is not surprising given generally improving economic conditions… If this pace continues, we expect the volume of severely delinquent mortgage balances to return to mid-2007 levels by the end of 2014.”
 

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