Mortgage delinquency rate drops

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Wednesday, May 09, 2012

The percentage of U.S. homeowners behind on their mortgage payments dropped in the first quarter of this year to the lowest level since 2009.

Some 5.78 percent of the nation's mortgage holders were behind on their payments by 60 days or more in the January-to-March quarter, credit reporting agency TransUnion said Wednesday.
In Oregon, 4.97 percent of homeowners were behind on payments.
The decline in the U.S. mortgage delinquency rate follows two quarters of increases. But barring any severe shocks to the U.S. economy, the rate is expected to continue easing, said Tim Martin, group vice president of U.S. Housing for TransUnion.

Read more at OregonLive.com.

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