60 day delinquent mortgages show (not so) "surprising" 1Q drop

From the mental fissionist mega-geniuses at All Propaganda.

The rate of late mortgage payments dropped in the first quarter for the first time since 2006, according to credit reporting agency TransUnion.

The 60-day delinquency rate slipped to 6.77 percent, from 6.89 percent in the fourth quarter of 2009. That was the first decline after 12 consecutive quarters of steady increases, TransUnion said.

The first-quarter figure still represents a substantial jump from a year ago, when delinquencies were at 5.22 percent. But FJ Guarrera, vice president in TransUnion's financial services business unit, said it's still good news.

"To see it turn down is a very, very strong sign," Guarrera said, adding that positive economic indicators like Friday's increase in job creation make the outlook even better...

But that scenario would kinda deflate the gestalt of this group lovefest now wouldn't it?

I know, its all crazy talk, a 1:1,000,000 shot that my scenario is true, and we got a better chance of finding a Stargate buried under home plate at Yankee Stadium tomorrow.

posted by Purp at 11:11 AM

| Access Comments