Despite recent escalation in mortgage interest rates, serious delinquency held steady last month. Current conditions suggest further continued strong performance.
Including first and second mortgages, bank cards and automobile loans, consumer delinquency of at least 90 days was 0.96 percent as of Feb. 28.
Serious consumer delinquency inched up a basis point compared to the preceding month. A 2-basis-point year-over-year increase was recorded for the 90-day rate.
Source: Mortgage Daily