Underwater mortgages at 6.67% for Q2News added by ProWEB Media on August 17, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

The number of mortgage borrowers who were underwater -- or 60 days or more behind on their payments was 6.67 percent in the second quarter, TransUnion reports.

This figure, which is compared with a rate of 5.81 percent in the second quarter of 2009, soars high above the historical average of 1.5 percent to 2 percent.

According to TransUnion, while the delinquency rate only dropped marginally from the first quarter, credit conditions in the housing sector have now begun to stabilize.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release