The rate of serious delinquency on first mortgages inched higher but has remained stable for two years. The second-mortgage rate, however, has exploded over the past year.
As of the close of last year, the Composite Consumer Credit Default Index had consumer credit delinquency of at least 90 days at 0.91 percent.
The index, which reflects performance on automobile loans, bank cards and first and second mortgages, inched up 2 basis points from both Nov. 30 and year-end 2016.
Source: Mortgage Daily