Home Mortgage Delinquencies Continue to Rise

The Mortgage Bankers Association reported that the percentage of homeowners delinquent on their mortgages rose in the third quarter of 2001 to 4.87 percent, up 24 basis points from the second quarter, and the highest level since the fourth quarter of 1991. As recently as the first quarter of 2000, mortgage delinquencies bottomed out at 3.74 percent, but have been rising steadily ever since. The highest level ever recorded for mortgage delinquencies was 6.07 percent in 1985.

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