Serious Mortgage Delinquency Deteriorates

First mortgage serious delinquency moved higher last month. Recently rising interest rates on residential loans have not yet impaired consumers’ ability to qualify for new mortgages.

Ninety-day delinquency on consumer credit was 0.95 percent as of Jan. 31, according to the Composite Consumer Credit Default Index. The rate deteriorated 4 basis points from one month previous.

Serious delinquency has ascended 3 BPS from the same date last year based on the index, a reflection of the performance on car loans, bank cards and first and second mortgages.


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From:: Financing

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