According to the Mortgage Bankers Association, the delinquency rate for mortgage loans on residential properties increased by 92 basis points compared to the same period last year.
The delinquency rate for the third quarter stood at 5.59 percent of all loans outstanding, the MBA national delinquency survey said, up 47 basis points from the second quarter.
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The delinquency rate does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process was 1.69 percent of all loans outstanding at the end of the third quarter, an increase of 29 basis points from the second quarter and 64 basis points from one year ago.
