While these numbers might not make you feel warm and fuzzy inside, they are an improvement and ANY improvement in the housing industry is a good thing for all of us! The number of Americans making either no mortgage payment or late mortgage payments has dropped for the fifth straight quarter. The percentage of borrowers that are 60 days or more late on their mortgage is 6.19%. At this same time last year, that percentage was 6.77%.
If you are wondering, the pre-recession normal was 2%, so we still have a ways to go. It is what it is…but at least it is better than it was a year ago! We are on the right track. If you would like to read the entire article, click here.
-Betsy, Atkinson-Thompson Group