The quarterly rate of delinquency on home-equity loans that are owned by banks tumbled. Also dropping was the rate on home-secured credit lines.
Delinquency of at least 30 days on consumer loans that are owned by the nation’s banks came in at 1.41 percent as of the third quarter of this year.
The rate reflects performance on eight closed-end installment loan categories — including HELs, mobile-home loans and property improvement loans.
Source: Mortgage Daily