Whether you are in the market to buy or refinance a home, everyone is talking about the rising mortgage interest rates! Many predictions and questions are included in conversations on this topic, along with the variety of national and worldwide changes that are affecting the rates.
February 2022
Mortgage Delinquencies Nationwide Dropped Below Pre-Pandemic Levels
According to an article written by Jann Swanson for MortgageNewDaily.com “The number of non-current loans has declined in every stage. Loans that were in the early delinquency, 30 to 59 days past due, represented 1.2 percent of loans in November, down from 1.4 percent the prior November and the rate of those 60 to 89 days delinquent was slashed in half, to 0.3 percent. Serious delinquencies, loans 90 days or more past due, including loans in foreclosure, which reached a high of 4.3 percent in August 2020, are now at a 2.0 percent rate, again only slightly more than half the rate a year earlier.”