It’s been a wild ride for the U.S. mortgage marketplace in recent years, but things are on the mend according to the latest report from LPS.
To say the least, the post-housing boom marketplace has been an eventful one for the U.S. mortgage market. With both delinquencies and foreclosure inventory reaching record heights, the mortgage market was often utilized by analysts and commentators alike as the ultimate sign of how far housing had fallen.
Now that housing is in a definite recovery, though, it would only make sense that we use the mortgage market as a sign of how far housing has progressed, and the latest report from Lender Processing Services (LPS) offered a perfect snapshot of where the mortgage markets currently are. Studying its loan-level database in May, which represents approximately 70 percent of the overall market, LPS found many things to smile about, with both foreclosure inventory and the overall delinquency rate dropping to their lowest levels in years.
How far have they fallen? See our infographic below to find out: