News from the Mortgage Bankers Association tells that the mortgage delinquency rate increased this past quarter. With the uncertainty of the marketplace in parts of the country and many other factors impacting the pocketbooks of the American people, financial trouble is to be expected for parts of the population. It will be interesting to see how these numbers change over the next couple of quarters.
“The increase in delinquencies is not surprising,” said Doug Duncan, MBA’s chief economist and senior vice president. “We have been expecting an up-tick in delinquencies due to a number of factors: the seasoning of the loan portfolio, the increased shares of the portfolio that are ARMs and subprime mortgages, as well as the elevated level of energy prices and rising interest rates.” via Mortgage Brokers Association.
Hat tip to Hot Property
No related posts.
