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Mortgage delinquency rate falls

By tvgnus   Follow   Mon, 11 Feb 2013, 8:44pm PST   246 views   2 comments
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Q4 2012 sees drop to 5.19 percent •  Its largest yearly decline since the conclusion of the recession The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) declined for the fourth consecutive quarter in the final three months of 2012, dropping from 5.41 percent in Q3 2012 to 5.19 percent in Q4 2012.

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CaptainShuddup   Mon, 11 Feb 2013, 11:20pm PST   Share   Quote   Permalink   Like   Dislike     Comment 1

That's easily explainable.

"All cash buying of homes reach record levels in 2012"

errc   Mon, 11 Feb 2013, 11:35pm PST   Share   Quote   Permalink   Like   Dislike     Comment 2

CaptainShuddup says

That's easily explainable.

"All cash buying of homes reach record levels in 2012"

it may be easily explainable. But I'm not sure it has much anything to do with the level of cash purchases last year. Id figure its to be expected now that we are about 6.5 years past the peak of the bubble. And 5.5 years past the end of the majority of the financial gimmicktry that allowed for the insanity. I doubt there's many folk left standing with a bubble era loan of size and scope, that can't afford to keep paying, if they've survived this long.

By Labor Day in 2007, the easy credit rug had been pulled out from under everyone, and aside from the countless attempts from the gov to capture more suckers on the way down. So naturally there should be less and less new delinquents. I was thinking the same thing when I happened on some yabbering media shlep praising a decline in the rate of new unemployment benefit filings. Well no shit, shirley! Its all farking relative

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