General World News

The share of borrowers who were late on their mortgage payments dropped in May

The mortgage delinquency rate fell 11 basis points to 3.10% in May, the second lowest national mortgage delinquency rate ever seen.

In May, the number of borrowers just one payment behind improved by 94,000, erasing nearly half of April’s increase, according to Black Knight. (Delinquency numbers in April spiked because the month ended on a Sunday and payments made by borrowers on the last few days of the month couldn’t be processed immediately.)

Meanwhile, the population of “seriously delinquent homeowners” (90 or more days past due on their mortgages) continues to details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com