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The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) declined in the first three months of 2012 to 5.78 percent. This improvement ends two quarters of increases that began in Q3 2011, according to TransUnion.

Prior to Q3 2011, 60-day mortgage delinquency rates had dropped for six consecutive quarters. This latest quarter brings the delinquency rate to its lowest point since Q1 2009.

Between fourth quarter 2011 and first quarter of 2012, all but eight states experienced decreases in their mortgage delinquency rates.

House prices continue to face downward pressure and unemployment remains high, but many see the economic environment beginning to show modest improvement. Therefore, TransUnion’s forecast predicts mortgage delinquency rates to drift downward in 2012 as more homeowners are able to repay their mortgage debt obligations.

http://www2.realtoractioncenter.com/site/R?i=zZZnyKfImNyQ8PmnDIDvaA

New research by two economists show a direct correlation between foreclosure rates and the health of residents in Arizona, California, Florida, and New Jersey.

Read the full story
http://online.wsj.com/article/SB10001424053111904199404576538293771870006.html?mod=WSJ_RealEstate_LeftTopNews

Calif. median home price: June 2011: $$295,300 (Source: C.A.R.)
Calif. highest median home price by region/county June  2011: Marin: $843,080 (Source: C.A.R.)
Calif. lowest median home price by region/county June 2011: Lake County $85,620 (Source: C.A.R.)

Calif. Pending Home Sales Index: June 2011: 119, an increase of 1.9 percent compared with prior month. (Source: C.A.R.)
 
Calif. First-time Buyer Affordability Index: First quarter 2011: 53 percent (Source: C.A.R.)

Mortgage rates: Week ending 7/28/2011 30-yr. fixed: 4.55 fees/points: 0.8% 15-yr. fixed: 3.66 fees/points: 0.7% 1-yr. adjustable: 2.95% Fees/points: 0.5% (Source: Freddie Mac)