Housing Market Sees a Few Bright Spots

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Fewer homeowners are falling behind on their mortgage and a record number of homeowners are taking advantage of record low interest rates, according to one credit reporting agency.

Late payments have dropped to a three-year low in the second quarter, with only 5.49 percent of families behind on their payments by 60 days or more.

The numbers come from TransUnion, fro the period between April and June.

Mortgage delinquencies in America were running less than two percent before the housing market collapsed.

At the same time, homeowners are taking advantage of record low interest rates and refinancing in record numbers. Refinance applications for government insured loans soared nearly 200 percent from May to June, reaching a three-year high.

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