Late-Payment Rate on Mortgages Down in 3Q

November 12, 2013
Associated Press 
mortgage lending news

Property price appreciation, favorable interest rates, and steady employment gains are helping more U.S. homeowners stay on top of their mortgage payments, reports TransUnion. The credit reporting firm puts the country's home loan delinquency rate for the third quarter at 4.09 percent -- down from 5.33 percent during the same three months of 2012 and down from 4.32 percent in this year's second quarter. The share of borrowers two months or more behind on their mortgage payments is now at the lowest level in five years, according to TransUnion. However, the rate remains 1 to 2 percent higher than normal.

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