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  • U.S. Mortgage Delinquency and Foreclosure Rates Decreased

    From mbaa.org

    Read Full Story at mbaa.org

    The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally adjusted rate of 7.40 percent of all loans outstanding as of the end of the third quarter of 2012, a decrease of 18 basis points from the second quarter of 2012, and a decrease of 59 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate increased 29 basis points to 7.64 percent this quarter from 7.35 percent last quarter. Delinquency rates typically increase between the second and third quarters of ... (full story)

    • Guest

      IP XX.XXX.136.141
    • Useless lagging indicator.

    • Silat50

      365 posts
    • I would definitely not say it is a lagging indicator because once people secre the most important thing in the world...a place to live, it frees up money for other things down the line. However, like the unemployment numbers, how valid is this? What good would unemployment decreasing be if the amount of people working for minimum wage has doubled in the last 2 years. We'd have a depression! So if delinquencies are decreasing, is this due to banks "settling" with irresponsible debtors? Is there an increase of people who are just one paycheck from not being able to make a house payment? I would love to see those numbers. Since 2008, something keeps getting worse. But, thank God Bernanke is showing himself to be a genius as he is overcoming the govt.s spending by doing something far more complicated than we think. Best Fed Chairman we ever had!

    • frx_trader

      941 posts
    • Quoting Silat50
      But, thank God Bernanke is showing himself to be a genius as he is overcoming the govt.s spending by doing something far more complicated than we think. Best Fed Chairman we ever had!
      Genius????

      Ask a child if she wants ice cream. Daddy says to buy ice cream requires money. She says then give me some money to buy ice cream. Daddy says we don't have money unless we have printing machines.

      Printing money might be Columbus Egg we have never thought of. It's so easy to solve a problem if we know the solution.

      But do we call it genius? Nope.

    • Silat50

      365 posts
    • I see your point, trader....if it was all transparent. But any other fed chairman would have had a much worse economy no matter what he did. You think if he kept raising raites that would put us in a better position? Maybe........but it also might cause us to go into the biggest recession in 50 yrs. We arent doing so well as a nation, but the stockmarket is on a record tear. And that as far as the govt goes has always been "their" leading indicator!!! -) He's no dummy,this guy. You think Greenspan would have gotten us out of the housing crisis any better. But then again....we really arent out of it, are we? Who really knows. We are all here to follow the trend,right?

    • Silat50

      365 posts
    • The biggest mistake any fed chairmen has ever made was bailing out the banks without requirements that 50% of the money MUST go back into circulation. We are going to have a strong dollar for quite a while now I think, even if all the poor single moms who are working 2 jobs can barely survive! Come on, we all know...this is the first generation to not have it better than their parents. Sadly we all know that much of that has nothing to do with economics and more to do with handouts and setting up a system where incredibly you get more by not working than by working. You work for Walmart to help your husband who is also working just part time, and all of you get no health insurance. But if both of you get fired, you both collect, you get free medical and foodstamps. Where is THIS going in the next 5 years!!!!?

    • frx_trader

      941 posts
    • Quoting Silat50
      He's no dummy,this guy. You think Greenspan would have gotten us out of the housing crisis any better. But then again....we really arent out of it, are we? Who really knows.
      There is no quick fix. It's like rowing and balancing a boat to go forward. I am curious what Greenspan will do. While BB is no dummy, he is no genius either. While almost all options have been exhausted, so he prints money as the last resort. The boat is leaking, so to save it, just dump anything from the boat into the water. The engineer has given up on fixing the boat. But that's not bad for saving the boat.


      Quoting Silat50
      We are all here to follow the trend,right?
      Absolutely agreed.

      Quoting Silat50
      But if both of you get fired, you both collect, you get free medical and foodstamps. Where is THIS going in the next 5 years!!!!?
      Let's say you have 100 bucks. There are 2 options to start a business, A and B. A is much more efficient, and less risky than B. It's no brainer to pick A than B. But choosing A, you have to subsidize C. But still it's logical to choose A than B.

      The above is a very simple model of any economies in the world. The money is put into the most efficient options and subsidize the less efficient options. Each country may choose to do it in her own way. In aggregate, this form the world economy. We are all in the same boat. The difference is some are at the front end, while others are at the back end, and some are in the middle of the boat.

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