Mortgage Delinquencies Should Hit 8-Year Low in 2015

New York, NY, Dec. 10, 2014 -- Credit reporting agency TransUnion is predicting that the national mortgage delinquency rate will be 2.51% in 2015, which would be the lowest level since the third quarter of 2007.

Reduced delinquency, low interest rates and rising employment can help drive home sales, the firm said.

The national mortgage delinquency peaked at 6.93% in the first quarter of 2010 but has fallen fairly steadily since then. Since that peak, the delinquency rate has dropped almost every quarter, with minor bumps occurring in the third and fourth quarters of 2011.

The firm expects interest rates to remain relatively low next year and unemployment rates to keep falling.