Serious Mortgage Delinquencies Fell from End of Last Year
According to the latest Housing Market Conditions report, produced by the Federal Reserve Bank of St. Louis, 4.49 percent of mortgages in the U.S. were delinquent 90 days or more or were in foreclosure in March 2014. In comparison, 4.99 percent of mortgages were seriously delinquent in December 2013. The image below breaks down the percent of seriously delinquent mortgages by county for March 2014.
The share of seriously delinquent loans in the U.S. decreased 50 basis points (bps) between December 2013 and March 2014. Loans that were delinquent 90 days or more decreased 18 bps, while foreclosures decreased 32 bps. The image below shows the change in seriously delinquent mortgages by county.
The next image shows changes in U.S. house prices since 2000. In the first quarter of 2014, house prices in the U.S. were 1.4 percent higher than in the fourth quarter of 2013 and 7 percent higher than in the first quarter of 2013.
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"Serious Mortgage Delinquencies Fell from End of Last Year," St. Louis Fed On the Economy, June 10, 2014.
This blog offers commentary, analysis and data from our economists and experts. Views expressed are not necessarily those of the St. Louis Fed or Federal Reserve System.
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