Last week was a notable week for those data buffs among us – HousingLink released their 2009 Foreclosure Report and the Mortgage Bankers Association released their quarterly delinquency survey.
As Chris Snowbeck from the Pioneer Press notes in a recent article, the HousingLink data is good news but can’t be considered a sign that the foreclosure problem is waning – there are many efforts being made to reduce foreclosures and they’ve had an impact www.orarily but not all these efforts will be successful and there are still a lot of in-default homeowners that will need to be addressed one way or another in the coming quarters.
The Pioneer Press also has a great writeup on the MBA data in our local market - while an amazing 6.9% home loans 90+ days delinquent or in foreclosure, the percentage of loans 30-59 days delinquent has remained very flat for over a year and is showing signs of a downtrend in recent quarters - a good sign that locally borrowers current on their mortgages are having an easier time doing so. I’d love to pour over more info in their report but they want a princely sum of money to see it and I’m not paying.
