At the end of 2010 8.2% of mortgages had at least 1 payment past due and another 4.6% of mortgages were in the foreclosure process. At the end of June 2016 4.7% of mortgage were 1 payment past due, and only 1.6% of mortgages were in the foreclosure process (source: Mortgage Bankers Association)
More and More Renters
There were 118.3 million households in the United States as of June 30, 2016. They were split 63% owners (74.4 million), and 37% renters (43.9 million). The owner number has been flat over the past 12 months. The renter number has increase by 1 million. 10 years ago in 2006 the ratio of owners to renters was 69/31. (source: Census Bureau)
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me.
Ron Henderson GRI, RECS, CIAS
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth