Mortgage delinquency rate falls sharply -- number of mortgage holders down, too

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

The percentage of borrowers behind on their mortgage payments by 60 days or more was down 23.3 percent at the end of September from a year ago, with California, Arizona, Nevada, Colorado and Utah all seeing 30 percent declines in the mortgage delinquency rate, TransUnion reports.

At 4.09 percent, the mortgage delinquency rate is still high by historical standards, but the dramatic improvement “is great news for homeowners and their lenders,” the company said.

The reports suggests that there are a heck of a lot fewer homeowners these days — TransUnion counted 52.3 million mortgage accounts, down from 54.2 million at the same time last year and a high of 63.1 million in 2008. Source: marketwired.com