This week was big for housing news, and the latest data suggests there's reason for cautious optimism about this year's real estate market. U.S. loan delinquency rates fell in year-over-year in December, down 7.7 percent from 2010. That rate is unchanged from November, but represents a significant drop from the previous year.
Some more good news?
- Housing starts rose year-over-year in December, climbing 24.9 percent from 2010.
- Rates on a 30-year fixed mortgage fell to yet another all time low, hitting 3.88 percent.
Of course it's not all good news. Even with the year-over-year drop in delinquencies, there are still 6.1 million loans that are delinquent or in foreclosure. But, given the enormous spike in foreclosures after the burst of the housing bubble, that number might not be that bad.
For the full story and a list of all the news - good and bad - visit my CBS MoneyWatch blog.
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blogand CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
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