Mortgage Delinquency Rate Up Sharply: The delinquency...
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From Times Staff and Wire Reports
Mortgage Delinquency Rate Up Sharply: The delinquency rate for home mortgages jumped sharply to the highest level in more than two years in the July-September quarter, the Mortgage Bankers Assn. of America said. The group said 5% of mortgage payments for one- to four-family residences were 30 or more days late, up from a second-quarter rate of 4.52%, a 10-year low. It was the highest delinquency rate since the second quarter of 1987, when 5.02% of mortgages were past due.
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