More Homeowners are Late on Their Mortgages
Despite signs of an improving housing market, homeowners continue to be under financial stress. According to Reuters, the 30-day mortgage delinquency rate increased again in August, reaching a new all-time high.
The chart above shows significant year-over-year increases in the delinquency rate. The August ‘09 rate of 7.58% increased 55% versus the August ‘08 rate of 4.89%. Month-to-month, the rate increased 3.6% versus the July ‘09 rate, which was 7.32%.
This delinquency rate is an important number to watch, as it is a leading indicator of home foreclosures and personal bankruptcies.
Looks like we’re not out of the woods yet.
Click Here to Get Great Rates And A Speedy Approval From Lending Tree Without Any Hassels.
Go to Source
Related posts:
- Home Buyer Education Creates Successful Homeowners I remember
- FHA Mortgages Now Qualify For Government Help If you hav
- Understanding Adjustable Rate Mortgages Part I Understand
- Understanding Adjustable Rate Mortgages Part II In Part II
- More Help for Underwater Homeowners Today, the
Related posts brought to you by Yet Another Related Posts Plugin.
Comments
Leave a Reply
