Delinquency Rates Climb Higher in Second Quarter Of 2008 as Prime ARMs Continue to Deteriorate
September 11, 2008
Mortgage delinquency rates continued to rise in virtually every loan category during the second quarter, but optimists could point to a few signs that the housing downturn may be easing up slightly.According to the Inside Mortgage Finance Large Servicer Delinquency Index, 6.10 percent of home mortgages were in some stage of delinquency or foreclosure as of the end of... [Includes one chart]