National Mortgage Delinquency Rate Edges Up During the 3rd Quarter

The national mortgage delinquency rate edged up during the third quarter of 2011, marking the first increase in nearly two years, according to TransUnion.

The Chicago-based credit bureau calculates the mortgage delinquency rate as the percentage of borrowers 60 or more days behind on their payments, excluding those that are already in foreclosure. The rate increased to 5.88 percent as of the end of the third quarter.

This is surprising since the delinquency rate the past 6 months had progressively more people paying  their mortgage payments on time. 

Hopefully this is a temporary issue and not a sign that real estate foreclosures are on the rise.

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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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