Share of Past Due Mortgages Reaches Post-Recession Low
Information released by the Mortgage Bankers’ Association (MBA) indicates that the share of all 1-4 family mortgage loans past due has returned to a level of normality. According to the MBA’s National Delinquency Survey, the share of all 1-4 family mortgages considered past due fell by 14 basis points to 4.52 percent. One year ago 4.99 percent of loans were considered past due.
The current share of loans past due has fallen significantly from its recession-related peak of 10.1 percent in 2010. Moreover, the current share of past due mortgages is below the average percentage between 1980, the beginning of the series, and 2006, 4.8 percent. Additionally, the average between 1987 and 2006 was 4.6 percent.
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