Home loan delinquencies
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Declining home values and overall economic woes continue to drive up mortgage delinquencies. Consumer credit rating firm TransUnion reports 4.6% of mortgage holders were at least 60 days past due on their loans in the last quarter of 2008, up from 3% the same period a year earlier.
Delinquencies have been rising for two years, TransUnion reports. Florida had the highest fourth-quarter delinquency rate, at 9.5%. California’s 6.9% delinquency rate was fourth in the nation, behind Florida, Nevada and Arizona.
-- Peter Y. Hong
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