Thursday, April 15, 2010
According to Equifax and Moody's Economy.com, the percentage of delinquent mortgages declined to 6.57 percent in the first quarter from 6.60 in the last quarter of 2009. Since the first quarter of 2006, this is the first decline in the delinquency rate.
Mark Zandi, the chief economist for Moody's says that the decline foreshadows a peaking of the foreclosure crisis. The economists suggest that the reasons for the decline would likely be the tougher lending standards, mortgage modification efforts and a more stable job market.
Mark Zandi, the chief economist for Moody's says that the decline foreshadows a peaking of the foreclosure crisis. The economists suggest that the reasons for the decline would likely be the tougher lending standards, mortgage modification efforts and a more stable job market.



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