Mortgage Delinquencies Hit 3-Year Low

mortgage delinquencies
mortgage delinquencies

By Credit.com



The rate at which consumers are behind on their mortgage payments by 30 days or more slipped in March to the lowest levels seen in more than three years.

The total value of all mortgage payments that were at least 30 days delinquent slipped to less than $500 billion in March, a level not seen since January 2009, and there were 49.5 million outstanding first mortgages during the month, according to the latest statistics from the credit reporting agency Equifax and Moody's Analytics. The latter number was a drop of close to 11 percent from the more than 55 million observed in March 2008.