Mortgage Delinquency Rate at Six-Year Low
New York, NY, Aug. 20, 2014 -- The late-payment rate on home loans has fallen to the lowest level since the first quarter of 2008, according to credit reporting agency TransUnion.
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The%age of mortgage holders at least two months behind on their payments fell in to 3.46% in the second quarter, down from 4.32% a year earlier.
The%age was also down from the first quarter of this year, when it stood at 3.61%.
TransUnion also said the number of new home loans issued by lenders declined in the first quarterby 51% to 1.1 million as higher interest rates and severe winter weather depressed sales.