Dip in mortgage delinquencies point to improving homeowner confidence, demand

In many ways, the construction sector has trailed activity in the housing market, with weak demand stalling new project starts and plaguing employment in the process. Accordingly, analysts look to activity in the housing sector to make projections for construction management.

This week, the Mortgage Bankers Association offered some goods news toward that end. The number of homeowners behind on their mortgages dropped to the lowest level in three years in the fourth quarter.

Specifically, 7.6 percent of home mortgage payments were at least 30 days late during the October-December period. That figure is down from 8.3 percent a year ago and 7.99 percent in the third quarter. The trend points to a gradual improvement in homeowner confidence, although rates remain above pre-recession averages of 5 percent.

"The Mortgage Bankers Association also said the percentage of loans on which foreclosure actions were started had fallen noticeably," reports E. Scott Reckard for the Los Angeles Times. "But experts expect the rate to increase this year following the end of a 16-month state and federal investigation info faulty foreclosure paperwork."