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U.S. sees slight rise in mortgage delinquency rate

On Behalf of | Aug 25, 2011 | Foreclosures

Mortgage struggles and home foreclosures can have major impacts on U.S. consumers. Thus, it is worth keeping an eye on mortgage-related trends in the United States.

A recent survey has revealed some interesting mortgage-related statistics. The survey was conducted by the Mortgage Bankers Association and it regards mortgage delinquencies in the United States. According to the CNBC article which reported on this survey, the survey indicated that the U.S. mortgage delinquency rate for 2011’s second quarter was 8.44 percent. This reportedly is a 0.12 percent rise from the mortgage delinquency rate the country saw in 2011’s first quarter.

Thus, the survey indicates that the country saw a slight rise in mortgage delinquencies in 2011’s second quarter. According to the CNBC article mentioned above, this is a deviation from the trend of decreases in mortgage delinquency that the country had experienced in recent quarters.

These statistics give rise to the question: what is causing mortgage delinquencies in the U.S. to rise again? Perhaps this rise is being caused by an increase in the economic problems U.S. consumers are facing. If this is what’s happening, this could clearly be bad news for consumers in Florida and the rest of the country.

Thus, it will be interesting to see what is ultimately determined to be causing the recent rise in the mortgage delinquency rate and what impacts these causes will have on consumers. It will also be interesting to see if the country will experience further increases in the mortgage delinquency rate in upcoming quarters.

Source: CNBC, “Number of Delinquent Mortgages on the Rise Again,” Aug. 22, 2011


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