Mortgage delinquency levels fell about 30% last year, even as borrowers received more credit, according to TransUnion.
Delinquency rates for mortgages and personal loans both fell on a yearly basis in 2015, TransUnion said in its fourth-quarter Industry Insights Report. Mortgage delinquency rates fell 27.8% during the time period, to 2.37% from 3.29%.
At the same time, mortgage debt per borrower increased 1.4% to $189,707 over the same time period.
"The rapid decline in the mortgage delinquency rate and the rise in mortgage debt is a positive sign for the residential real estate market," Joe Mellman, mortgage business leader for TransUnion, said in a news release.
However, states in which the energy industry is prevalent saw slower declines in mortgage delinquency rates. Also, delinquency rates increased in those states. For example, mortgage delinquency rates fell only 0.7% in North Dakota and auto loan delinquency rates there rose 42.3%. North Dakota is one of the largest oil-producing states.
