Mortgage Delinquencies Lowest since 2008

The Wall Street Journal released an article today that shows hope for the housing industry market, especially after the speculation of a worsening mortgage crisis for this year. The good news is that the number of borrowers becoming delinquent on their  payments has fallen under 8 percent, the lowest it has been since the end of 2008. This information is supplied from the Mortgage Bankers Association for the third quarter of 2011. In addition, the number of borrowers missing just one payment has fallen to 3.2 percent, another number that is the lowest it has been in the last four years. The MBA believes this upturn is due to the increase in positive job growth throughout the US and believes that if the job growth continues to increase, so will the number of properties not becoming delinquent and going into foreclosure.