Posted To: MND NewsWire
The quarterly report from the Mortgage Bankers Association (MBA) based on its National Delinquency Survey seems like old times. MBA reports that most, if not all, of its performance data is back to pre-crisis levels. The mortgage delinquency rate, for example, was at its lowest since the second quarter of 2000 , 4.24 percent. That reflected a 47-basis point (bp) reduction since the first quarter and was 42 bps lower than a year earlier. Delinquencies retreated across all loan types during the quarter, and within those types were several even more impressive historic markers. VA delinquencies were at their lowest level since 1979 (3.90 percent) and the last time the FHA rate had been lower than 7.94 percent was in 1996. The Conventional rate posted its best number, 3.47 percent, since 2005....(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2w29OAM
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