More U.S. Mortgage Holders Keep Up With Payments
LINDA WERTHEIMER, HOST:
NPR's business news starts with more on-time payments.
The mortgage delinquency rate in this country is at its lowest level in four years. The credit reporting agency TransUnion says today that people who took on mortgages well after the housing bust are keeping up with their payments. In part, that's because lenders have tightened the criteria for who can get a loan.
Even with this improvement, the mortgage delinquency rate is still well above where it was before the housing bubble burst. Historically, it's been at 1 to 2 percent. Right now, it's it at a little more than 5 percent. Transcript provided by NPR, Copyright NPR.