Despite a small month-over-month up tick in the rate of serious delinquency on first mortgages, loan performance on junior liens was much improved.

As of the final month of last year, the Composite Consumer Credit Default Index, an indication of consumer 90-delinquency, was 0.89 percent.

The index — a reflection of performance on automobile loans, bank cards and first and second mortgages — was up from 0.87 percent in November.

Source: Mortgage Daily