Serious delinquency on second-lien mortgages tumbled 10 basis points on a month-over-month basis, while first-mortgage performance was unchanged.

The Composite Consumer Credit Default Index indicated that delinquency of at least 90 days on consumer credit was 0.87 percent in November.

Delinquency — which reflects performance on auto loans, bank cards, first mortgages and second-lien mortgages — was unchanged from the prior month.

Source: Mortgage Daily