Serious delinquency on first mortgages was little changed last month, as has been the case for a half-decade. In Miami, serious consumer delinquency plunged more than 60 basis points.

Consumer delinquency of at least 90 days, as indicated by the Composite Credit Default Index, was 0.86 percent as of July 31. The index reflects performance on automobile loans, bank cards and first and second mortgages.

The composite index was no different than in the preceding month. But an increase was noted versus the same month last year, when serious consumer delinquency was 0.83 percent.

Source: Mortgage Daily