TransUnion: Mortgage Delinquencies Fell Again In 2Q

[FBaggins]

The rate of mortgages 60 or more days past due fell during the second quarter, the second straight period of declines after rising continually since the end of 2006, according to credit-reporting group TransUnion.

In addition, later-stage mortgage delinquency, such as the rates of borrowers who were 90 or 120 days or more past due, showed "additional positive news," TransUnion said, with both measures falling for the first time since the recession began in 2007.

The firm says the data suggest "credit conditions in the housing sector have now begun to stabilize," even though the delinquency rate only dropped marginally from the first quarter. Data from a host of sources recently have showed that delinquencies have begun to ease after years of increases.



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