Home Equity Delinquencies Hit New Record High
It’s not just mortgage rates that are setting records; delinquencies are also climbing to levels never seen before.
The latest bad news comes from the American Bankers Association’s Consumer Credit Delinquency Bulletin, which revealed that delinquencies increased in nearly all consumer loan categories.
Home equity loan delinquencies, largely second mortgages, rose 40 basis points to 3.03 percent Read more
Mortgage Delinquencies Rise for Eighth Straight Quarter
Mortgage loan delinquencies increased for the eighth straight quarter, according to the latest data from credit bureau TransUnion.
The data, which is pulled from 27 million anonymous, individual credit files, found a whopping 4.58 percent of mortgage holders nationally were at least two months behind in payments, up from 3.96 percent a quarter earlier and 2.99 percent a year ago.
The 60 day+ delinquency Read more