June 21, 2005 WASHINGTON --
On Tuesday the Mortgage
Bankers Association, or MBA, released a report concerning their analysis of
consumer mortgage payment
trending. According to the MBA the volume of American homeowners who are behind
or late in remitting their mortgages dropped in the first
quarter of this year.
By way of comparison things appear rosier for banks in 2005. The
first four months of this year presented a figure for delinquency rates totaling
4.31%. Contrast this number with 4.46% for the first quarter of 2004 and it
doesn't take an accountant to determine that homeowners are doing a bit better
financially this year.
The MBA said Tuesday that the overall percentage of foreclosures
was down at the 1.08 percent marker at the back-end of the first quarter. This
is a significant decrease when analyzed against 1.29 percent at the end of
2004's first quarter. - Article by
Arthur Weiss for CMR Mortgage
News.
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