Mortgate Troubles Near Pre-Recesion Levels

Mortgage troubles near prerecession levels. "The U.S. mortgage delinquency rate--loans that are a payment or more behind but not yet in foreclosure--fell to 6.39% of loans in the fourth quarter of 2013, down from 7.09% a year ago and the lowest rate since the early months of recession in the first quarter of 2008, according to a report Thursday by the Mortgage Bankers Association. The backlog of foreclosure inventory also fell to its lowest level since 2008, while the number of loans on which lenders initiated foreclosure was the lowest since 2006, which was when the housing bubble was starting to burst." Conor Dougherty in The Wall Street Journal.