News - National
Late mortgage payments rise again in 2nd quarter
Posted: Aug 17, 2010 6:25 AM by Bea Karnes, News First 5
Updated: Aug 17, 2010 6:54 AM
The rate at which U.S. homeowners fell behind on their mortgage payments remained elevated in the second quarter.
Credit reporting agency TransUnion says its data shows that in the three months that ended on June 30, the number of mortgage holders 60 days or more behind on payments was 6.67 percent. That's up from 5.81 percent from last year, and well above the historical norm of 1.5 to 2 percent.
It was a marginal improvement from the first-quarter's rate of 6.77 percent, and below the 6.89 percent record reached in 2009's fourth quarter.
TransUnion expects the mortgage delinquency rate to drift down, nearing 6.4 percent by the end of 2010.
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