Delinquencies Rise, Foreclosures Fall in the Second Quarter: MBA

From RealTrends.com The delinquency rate on mortgages backing one-to-four family residential properties rose to 8.44% in the second quarter, up 12 basis points from the first quarter, but still 141 basis points below a year ago, the Mortgage Bankers Association said Monday.

As delinquencies rose, the number of homes in foreclosure declined in the second quarter, with the percentage of foreclosure starts on all outstanding loans hitting 0.96%, down 12 basis points from the first quarter and 15 basis points lower than a year earlier.