Mortgage loan and real estate bubble burst, homeowners who is doing a better job, keep up with the trend of payment, driving the country to lowest level four housing loans in late payment rate.
At least 2 months after payment mortgage holder proportion in the fourth quarter, down to 5.19%, from 6.01% for the same period last year, the credit reporting agencies ring united said Tuesday.
Rate has not been in since December 2008 low, housing prices, sliding, the economic recession, many adjustable-rate mortgage buyers more perfect credit out process reset higher speed.
The ARM will lead to higher costs, many borrowers can't afford it, send the late payment rate is higher, in the 2009 years. In addition, the national unemployment rate rising path, in 2008 will continue to the next year.
These are some of the reasons, mortgage loan default rate missed nearly 7% of the peak, until the fourth quarter of 2009, according to the ring group.
Rate has been declining since then, subsidized housing sales and rising house prices, which makes it easier for borrowers their mortgage refinance or sell their home, if they lose their jobs or other reasons for not pay rebound.
Housing loans in 2008 or earlier account of all U.S. mortgage loan of 60%, and 90% of mortgage loans, there are at least two months late, Tim Martin said, the United States housing ring group vice President.
These loans many unpaid years, but, delay foreclosure process, in some countries, can take three years, means that mortgage loan has been paid.
"What happened, he said there is a a lot of people have fallen behind on a long time, we are not really joined a lot of new people's default Numbers," Martin said.
Go unpaid 2 months or more the number of mortgage loans grew by 54% in 2007, a 53% increase from the same period last year, up 50% from 2008, in 2009, according to the ring group.
Fall has far slow, mortgage loan default level in 2010 dropped by 7%, begin from the year before last year, in 2011 years of 6% and 14%, last year, the company said.
All told all the mortgage borrowers since 2009, only 10% of families have not pay 40% of the loan.
This is partly due to the lender needs to accord with the standard of tightening credit conditions, including greater initial payment. And even though mortgage rates low in history hovering near, the borrower is usually fixed rate, 30 years mortgage loan, these days.
"That have the effect of the borrowers can make their payments," Martin said.
This has kept the mortgage loan default rate from the crawling higher. However, 2009 years ago, the loan back 2 months or more treasure, is still a considerable resistance.
Even in 4 year low, mortgage loan default rate is still far higher than 1% to 2% of the historical average range, signs that many of the owners are working to make their payments.
In the real estate bubble burst before, mortgage loan defaults ratio in the national less than 2%.
Ring group is expected to national mortgage loan default rate will continue to decline, but it is expected to march through keep more than 5% rate.
Florida at the state level, leading the country in the fourth quarter of the highest mortgage loan default rate 12.47%, in any state. 10.45%, followed by Nevada, New Jersey 7.72%; , Maryland 6.88%.
In 2.20% of the default rate of the lowest respectively in 1.53%, North Dakota, south Dakota in 1.97%, 2.20%, Nebraska, Alaska.



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