MBA: 1Q Mortgage Delinquencies Continue to Drop

The Mortgage Bankers Association this morning reported the delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 6.38 percent of all loans outstanding, seasonally adjusted, at the end of the first quarter.

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“A rebounding job market and stimulus checks helped borrowers stay current on their mortgage payments. Mortgage delinquencies track closely to the U.S. unemployment rate, and with unemployment dropping from last year’s spike, many households appear to be doing better.” --Marina Walsh, CMB, MBA Vice President of Industry Analysis.

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