November 23, 2009 Market Recap

November 23rd, 2009

Last week wasn’t one of housing’s better weeks. Delinquencies dominated the news, and not in a good way. For the quarter ended September 30, 6.25% of U.S. mortgage loans were 60 or more days past due, a 58% increase from the same year-ago period, according to TransUnion. Meanwhile, LPS Applied Analytics reported that more Americans who bought homes during the housing boom are falling into mortgage purgatory. About 3.4% of households – or about 1.9 million homeowners – are 120 days or more overdue on their payments, but not yet in foreclosure, compared to 1.5% last year.