Mortgage delinquencies have fallen for the 10th consecutive quarter in the U.S., decreasing approximately 20% in just the last year. According to a recent report from TransUnion, millennials are helping to keep the delinquency rate down. Millennials have the lowest delinquency rate among all ages right now, averaging 2.43%. The head of financial services for TransUnion, Steve Chaouki said, “overall, the improvements in the mortgage delinquency rate can be attributed to a number of factors. These include the clearing of severely delinquent accounts through foreclosure as well as a lower rate of new delinquencies from post-recession vintages, which generally are of significantly higher credit quality and have experienced much better performance than mortgages originated before the recession.” More here
