The Mortgage Bankers Association reports today in their quarterly survey that the delinquency rate for mortgage loans on one-to-four unit residential properties rose to 9.64% at the end of the third quarter of 2009.
The delinquency rate breaks the record set last quarter. The records are based on figures back to 1972. The delinquency rate includes loans that are at least one payment past due but does not include loans in the foreclosure process. The percentage of loans in the foreclosure process at the end of the third quarter was 4.47%. The combined percentage of loans in trouble was 14.41 percent -- the highest ever recorded in the MBA delinquency survey.
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