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Mortgage Delinquency Rate is Becoming History; Hits Four Year Low

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  • Andy Zook | | 13 Feb 2013, 02:42 PM Agree 0
    A delinquency rate of 5.19% is a long way from the 2% rate that has been the historical norm. The article doesn't mention it, but I believe at its peak the delinquency rate was around 7%. With the millions of foreclosed, or short sale transactions that have already occurred (which would reduce the delinquency rate -as those delinquent mortgages no longer exist), I find it chilling that the delinquency rate is still so HIGH. With unemployment high and flat (at best) wage growth, the delinquency rate is going to stay well above its historical averages for many more years. The headline is shamefully dishonest.
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