Home loan deliquencies plunge

Mortgage delinquency rates are down to their lowest level in five years. Credit reporting firm TransUnion says only 5 percent of people with home loans were at least two months behind with their payments in the final quarter of 2012. That’s compared with 14 percent the year before. This finding means that in the future fewer foreclosure properties and short sales will be on the market. Home prices rose in nearly 90 percent of the nation’s largest metropolitan areas in the fourth quarter of 2012, according to the National Association of Realtors.

Category: Home Loans