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