There was an up tick last month in the rate of serious mortgage delinquency. Recent natural disasters could push the rate ever higher over the next few months.
As of Sept. 30, ninety-day delinquency on consumer credit — including auto loans, bank cards and mortgages — worked out to 0.88 percent based on the Composite Consumer Credit Default Index.
Consumer credit delinquency worsened by 2 basis points compared to the previous month. A 4-basis-point increase was recorded versus the rate as of the same month last year.
Source: Mortgage Daily
