The Obama administration’s housing scorecard for March offers more optimism for the housing market, noting stability taking hold in the health of the nation’s real estate market.
The March scorecard, released every month, shows mortgage delinquencies falling and well below year-ago levels. The report also shows a strengthening in existing-home sales in January and February — marking the strongest start to a year since 2007. Foreclosure completions were also down last month.
“The data this month show that we’re making important progress in providing relief to home owners,” says HUD Assistant Secretary Raphael Bostic, stressing that fewer borrowers are falling behind on their mortgages and about 425,000 families have taken advantage of the Home Affordable Refinance Program to curb mortgage costs.
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