Homeowner Mortgage Delinquency/Foreclosure Rate Down

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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