Mortgage delinquency rates trended slightly higher in the second quarter of 2005, although most of the damage appears to be in the less-severe categories of late payment. According to the Inside Mortgage Finance Large Servicer Delinquency Index, overall late payments rose from 2.94 percent in the first quarter to 3.11 percent at the midway point in the year. The index is a volume-weighted measure based on reports from 25 large mortgage servicers that manage some… [One data table included]