Sunday, September 14, 2008

Home-Loan Delinquencies Rise

U.S., R.I. Home-Loan Delinquencies Rise

The U.S. mortgage delinquency rate rose for the sixth consecutive calendar quarter in the April to June period, according to the latest figures from credit data giant TransUnion LLC. The average delinquency rate nationwide – the percent of mortgage borrowers who had fallen behind on payments by 60 days or more – rose to 3.53 percent in the second quarter, TransUnion found. That represented an increase of more than 9 percent from the first quarter’s 3.23 percent and about 51 percent from the second quarter of 2007.

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