DALLAS (Dallas Business Journal) – By the end of 2009, 10.3 percent of Texas home loans were delinquent — up 0.5 percent from the third quarter — but the number of loans 30-60 days delinquent fell 11 basis points to 4.43 percent, according to the Mortgage Bankers Association.
A loan is considered delinquent if one or more payments are past due.
Nationally, the delinquency rate declined 17 basis points to 9.47 percent, and the rate for loans 30-60 days delinquent fell 46 basis points to 3.36 percent.
“This shows a significantly improved housing market, even from 90 days ago,” said Scott Norman, vice president of the Texas Mortgage Bankers Association.
The year concluded with 2 percent of Texas home loans in foreclosure, compared with 4.58 percent nationwide.