You may be noticing a trend of articles focusing on the increasing levels of the market and this is for good reason. The first quarter of 2012 brings the lowest mortgage default rate since the third quarter of 2008. Loans marked of at least 30 days late have dropped from the peak of 10 percent in 2010 to 7.4 percent in the last few months. Smaller delinquencies, anything just one day late, are at an even lower level. Foreclosures in general have also decreased, with the start of foreclosures slowing in 41 states and the rate of loans in the process of foreclosure slowing in 22 states.
All of this, along with low interest rates, is leading to increased demand and ultimately increased home sales. This may very well be the year it turns around.
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