Mortgage delinquency at 4.34% in Maryland in first three months
The mortgage delinquency rate in Maryland was higher than the regional and national average during the first three months of this year, according to the latest National Delinquency Survey released by the Mortgage Bankers Association.
While the national rate fell to its lowest point in 28 years, Maryland's delinquency rate of 4.34 percent surpassed the South Atlantic region's rate of 4.04 percent and the national rate of 3.45 percent.
The higher Maryland rate was caused partly by a larger concentration of government-backed loans in the state, while high incomes and low unemployment nationwide combined to drive the delinquency rate to its lowest level in a generation, MBA analysts said.
News in brief
Coldwell Banker Stevens Realtors said its Annapolis office increased its total May sales by 78 percent and more than doubled total sales volume when compared with the corresponding period last year. Its Maryland residential sales offices increased total sales by 6 percent, total sales volume by 2 percent and total listings by 13 percent compared with May 1999.
On the move
Coldwell Banker Grempler Realty said Kia Renee Stanfield, Delvonia Percell and Paula Branch have joined the firm as full-time sales associates.
Coldwell Banker Grempler Realty said Carter Woodward has earned a certified residential specialist designation.
On the Web
The Meyers Group, a California-based firm that tracks and analyzes home construction, has launched a Web site that will provide reports and free analysis on economic and housing market conditions. Site visitors will be able to order customized reports on specific projects or geographic regions for a fee. The Web site is www.meyersgroup.com.