New data from Equifax and Moody’s Economy.com revealed that mortgage delinquencies increased again in August, according to the Wall Street Journal. Nationwide, 3.56 percent of mortgages were at least 30 days past due last month, up 0.31 percentage points from July. The delinquency rate has increased about 1.5 points since bottoming out at the end of 2005, with fully half of that increase coming in the last three months. Delinquencies have climbed since August 2006 in all 50 states, and 10 states have posted an increase of more than one percentage point. The share of problem loans has increased most sharply over the past year in Florida, Arizona and Nevada. Those three states — plus California and New York — saw the highest increase in the rate of foreclosures.
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Boone office at 828-262-0500, our Hickory office at 828-327-2240, email us, or use our online request form.