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“Newer delinquencies, loans one payment past due as of March 31, are down to the lowest level since the middle of 2007, indicating fewer new problems we will need to deal with in the future,” said Michael Fratantoni, the USMortgage Broker's Association’s vice president of research and economics.

This is good news and could indicate the start of the turnaround in the USHousing Market. From Cayman's perspective this will also help general investor confidence and although Cayman foreclosures are still higher than ever seen before in our market, the level of delinquencies are generally accepted as being much lower in Cayman than elsewhere in the region.

The full report can be found at