CNBC
August 22, 2011
After several quarters of improvements, the number of U.S. homeowners who are late on their mortgages increased in the second quarter, according to a survey by the Mortgage Bankers Association (MBA).
- A d v e r t i s e m e n t
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The second-quarter mortgage delinquency rate rose to 8.44 percent of all mortgage loans outstanding, according to the MBA’s Mortgage Deliquency Survey. That is an increase of 0.12 percent from the previous quarter, but is still down 1.41 percent from the same period a year ago.
“While overall mortgage delinquencies increased only slightly between the first and second quarters of this year, it is clear that the downward trend we saw through most of 2010 has stopped,” MBA’s Chief Economist Jay Brinkmann said in a statement. “Mortgage delinquencies are no longer improving and are now showing some signs of worsening.”
The delinquency rate includes loans that are at least one payment past due, but does not include loans in the process of foreclosure.
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