Tuesday, May 24, 2016

New Mortgage Delinquencies Near Lowest Level in 17 Years

The number of new foreclosures in the first quarter edged near the lowest level in 17 years, according to a just released report from the New York Federal Reserve.

“The proportion of overall debt that becomes newly delinquent has been on a steady downward trend and is at its lowest level since our series began in 1999. This improvement is in large part driven by mortgages,” said Wilbert van der Klaauw, senior vice president at the New York Fed.

Have I mentioned we are not in the down phase of the Fed-created boom-bust cycle?


1 comment:

  1. Well, we are almost there aren't we ? with slow rise in rates they started. They can't back off as that would self-fulfill.