Mortgages only one payment past due are now at their lowest level since the recession’s start, according to the Mortgage Bankers Association. Overall, the latest figures for the house financing sector represent “significant, across the board decreases in mortgage delinquencies rates in the U.S.,” says Jay Brinkmann, the MBA’s chief economist. Brinkmann also noted the percentage of payments 90 days or more past due has fallen from a record high 5.02% in the first quarter of 2010 to 3.63% at the end of December.
Click here to read the release from Mortgage Bankers Association.