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Mortgage Delinquencies Fall to Lowest Level Since 2008

By John Gittelsohn

 |  Bloomberg News  

  May 17, 2012

The US mortgage delinquency rate declined in the first quarter to the lowest level since 2008 as an improving job market and low interest rates helped more borrowers pay their bills. The share of home loans at least 30 days late dropped to 7.4 percent from 7.58 percent in the previous three months, according to a report Wednesday from the Mortgage Bankers Association. The rate peaked at 10.1 percent in the first quarter of 2010 and was last lower in the third quarter of 2008, when it was 6.99 percent.

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