Mortgage delinquencies hit another record in 3Q

[Robb]

Source: AP

NEW YORK — The pace at which people fell behind on their mortgages slowed during the summer for the third consecutive quarter, but the overall delinquency rate hit another record, a new report shows.

For the three months ended Sept. 30, 6.25 percent of U.S. mortgage loans were 60 or more days past due, according to credit reporting agency TransUnion. That's up 58 percent from 3.96 percent a year ago.

(snip)

The statistics, which are culled from TransUnion's database of 27 million consumer records, show that mortgage delinquencies remain highest in the four states where the crisis has hit the worst.

_ In Nevada, the rate reached 14.5 percent, up from 7.7 percent a year ago.

_ In Florida, the rate was 13.3 percent, up from 7.8 percent last year.

_ In Arizona, the rate hit 10.4 percent, up from 5.5 percent in 2008.

_ In California, the rate jumped to 10.2 percent, from 5.8 percent last year.

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[ixion]

1. green shoots!

:sarcasm:

[MannyGoldstein]

2. Hmm... Must Need Another Banker Bailout

That'll do the trick.

Sincerely yours,

Larry, Timmy, and Ben

[Frank Booth]

3. This of course doesn't reflect the commercial real estate bubble,

which is set to burst any day now.