Monday, November 8, 2010

Mortgage Delinquencies Edged Higher

The number of new foreclosure notices fell 5.5% but a slightly larger proportion of mortgages became delinquent in the third quarter of 2010, according to a New York Federal Reserve Bank survey released on Monday.
About 2.7% of current mortgage balances fell into delinquency between June and September, compared to 2.6% in the second quarter, marking the first rise in this figure since last year.