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Home-Equity Delinquencies Remain Low.(Brief Article)
New York -- A strong housing market and low interest rates has helped keep the delinquency rate on securitized home-equity loan portfolios low, according to Moody's Investors Service.
In February, the 60-plus-day delinquency rate was 5.53%, a 23% decline from one year earlier when the 60-day past due rate was 7.19%.
However, the February delinquency rate was a slight increase from the recent three month average of 5.49%, Moody's noted.
The February charge-off rate was 0.77%, a slight increase from 0.75% one month earlier. But the February charge-off rate was a 34% improvement from one year earlier, when the rate was 1.17%, Moody's said.
The Moody's home-equity index consists of three major types of loans: subprime, high loan-to-value (which includes home improvement loans) and traditional home-equity loans (which includes lines of credit).
Earlier, Fitch Ratings, in a separate report, indicated that ...
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Source: HighBeam Research, Home-Equity Delinquencies Remain Low.(Brief Article)