May 19, 2010
Nearly 9% Of Bay State Home Loans Delinquent In Q1
By Matthew L. Brown
Massachusetts' home loan delinquency rate was 8.8 percent by the end of the first quarter, according to the Mortgage Bankers Association's National Delinquency Survey.
The delinquency rate for subprime adjustable rate loans was 33.8 percent. The rate for subprime fixed loans was 28.9 percent.
The delinquency rate for FHA loans was 10 percent while 7.9 percent of Veterans Administration loans were delinquent.
The state ranked 20th in the nation in delinquencies.
Across New England, 8.6 percent of home loans were delinquent. Rhode Island's rate of 10.5 percent topped the region.
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