Encinitas Mortgage Delinquencies Hit 3-Year Low

The most recent Encinitas real estate news is that the number of homeowners in the U.S. delinquent on mortgage payments is down. The latest Encinitas real estate news shows that the percentage of borrowers who have fallen behind on their mortgage payments is at a three-year low.

For the second quarter of 2012, the percentage of mortgage holders that were delinquent on payments by 60 days or more fell to 5.49%, the lowest levels seen since the first quarter of 2009.

Other findings that were part of this announcement from TransUnion include:

  • Delinquency rate down from 5.82% in second quarter of 2011
  • Delinquency rate below 5.78% from first quarter of 2012
  • Coincides with the improving outlook on U.S. housing market
  • Home financing surged due to historic-low interest rates

The U.S. economy has seen some signs of faltering in the last few months, though in July it seems that hiring has picked up with employers adding 163,000 jobs for the month.

Not only has the mortgage delinquency rate already fallen, TransUnion expects that the rate will continue to fall though probably not below 5% this year.

How this relates to homes for sale in Encinitas and other Encinitas real estate is that California saw a marked improvement during the second quarter, with the delinquency rate falling nearly 22% to 6.13% from a year earlier.

For all of the latest real estate news or to find homes for sale in Encinitas, consult an Encinitas Realtor.

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