The housing debacle continues to set unwanted records, with more than 10% of U.S. homeowners missing at least one mortgage payment during the first quarter of 2010.
That's from a Mortgage Bankers Association survey released Wednesday. The percentage of loans in the process of foreclosure rose to 4.63%, another high mark.
The economy is generating jobs, helping to reduce layoffs, Jay Brinkman, MBA’s chief economist, said in a statement. But new unemployment insurance claims remained higher than expected in the first quarter.
“For several years, the four states of Florida, Arizona, Nevada and California have dominated the national delinquency and foreclosure numbers,” Brinkman said. “Florida is still getting worse, but California is showing signs of improvement. However, Washington, Maryland, Oregon, and Georgia showed the greatest overall increases in foreclosures started compared to last quarter.”
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