For the second month in a row, the rate of seriously past-due payments on residential loans in first-lien position moved higher. The second-mortgage rate also rose.

The Consumer Credit Default Index indicated that 90-day consumer delinquency was 0.92 percent at the end of last month, up 3 basis points from a month earlier.

But compared to one year earlier, the index — which reflects performance on auto loans, bank cards and first and second mortgages — moved down by 4 BPS.

Source: Mortgage Daily