At least mortgage delinquencies are going in the right direction.
Residential delinquencies in metro Atlanta declined in the first quarter of 2011 — the fifth consecutive three-month period in which they have fallen, AJC reporter David Markiewicz writes.
Still, metro delinquencies — at least 60 days past due — were higher than the national average, which also decreased for the fifth straight quarter, Markiewicz reports.
The data was reported by TransUnion, a credit reporting agency.
“It’s a mixed message,” said Tim Martin, group vice president of the U.S. housing market for TransUnion. While Atlanta continues to improve, he said, “it’s a long way to getting back to something like normal.”
In the first quarter of 2007, the delinquency rate in metro Atlanta was 3.2 percent, which Martin said was closer to normal, Markiewicz reports.
For the first quarter of this year, 8 percent of Atlanta’s mortgages were 60 or more days overdue. Nationwide, the average was 6.2 percent, Markiewicz writes.
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