Housing Numbers Look Much Better

The Mortgage Bankers Association reports that the delinquency rate fell to about 8 percent in the third quarter, its lowest point since 2008, as the share of Americans late on their mortgage payments has declined slowly since peaking at 9.9 percent two years ago. The data does not include the 4.4 percent of U.S. loans in foreclosure. “While the delinquency picture changed for the better in the third quarter, the foreclosure data indicated that we are not out of the woods yet,” said MBA’s Michael Fratantoni. | Read More