AgentIndustry News

Employment, mortgage delinquency updates deliver slice of good news for real estate pros

Rising employment rates and home values give real estate market much-needed energy boost

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Employment is up; mortgage delinquencies are down. Home values are up; interest rates are down. While the spring buying season may seem like a roller coaster, the outlook for the real estate market is quite rosy, according to recent measurements of market forces. According to the Mortgage Bankers Association’s National Delinquency Survey, the delinquency rate for mortgage loans on one- to four-unit residential properties decreased to a seasonally adjusted rate of 5.54 percent of all loans outstanding at the end of the first quarter of 2015 — the lowest level since the second quarter of 2007. The delinquency rate decreased 14 basis points from the previous quarter, and 57 basis points from one year ago, MBA said. In addition, the percentage of loans in the foreclosure process at the end of the first quarter was 2.22 percent, down five basis points from the fourth quarter of 2014 and 43 basis points lower than the same quarter one year ago — the lowest foreclosure inventory r...