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US mortgage delinquency rates decrease

By BFN News | 03:04 PM | Thursday 15 November, 2012

The delinquency rate for US mortgage loans on one-to-four-unit residential properties fell to a seasonally adjusted rate of 7.40% of all loans outstanding as of the end of the third quarter. This is a decrease of 18 basis points from the second quarter of 2012, and a decrease of 59 basis points from one year ago, according to the Mortgage Bankers Association�€?s (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate increased 29 basis points to 7.64% this quarter from 7.35% last quarter. Delinquency rates typically increase between the second and third quarters of the year. Story provided by