Mortgage Delinquencies Continue To Rise

Delinquencies have increased 53 percent from the same period last year.

According to a new analysis of trends in the mortgage industry for the fourth quarter of 2008 and the associated impact on the U.S. consumer from Trans Union, mortgage loan delinquency (ratio of borrowers 60 or more days past due) increased for the eighth straight quarter, hitting a national average high of 4.58 percent for the fourth quarter of 2008. Traditionally seen as a precursor to foreclosures, this statistic is up almost 16 percent from the previous quarter's 3.96 percent average and up approximately 53 percent from the same period last year (2.99 percent).
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