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Who Defaults? And Are Home Loan Applicants Getting a Bad Financial Deal?

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Blog by Doug Ingersoll | April 8th, 2016

The chart above shows single family home listings under contract in 85050 and 85054 which make up Desert Ridge.

From Elliott Eisenberg The Bowtie Economist: Diverse Delinquencies

Q3 consumer delinquencies rose from a record low of 1.36% in Q2 to 1.41%. These levels are substantially below the 15-year average of 2.25%, a level last seen roughly four years ago. Mobile home loans have the highest delinquency rate at 3.59%, followed by home equity lines of credit at 2.91%. At the other end, auto loans enjoy the lowest delinquency rate at 0.74%, followed by RV loans at 0.95%.

Neighbor Sam sent along this article from the Washington Post: "Many couples pay more when both of them apply for a mortgage". My takeway is to know and be a good curator of your credit worthiness. Saves lots of money over a lifetime. Thanks Sam