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Home Equity Delinquencies Increase.
Washington -- The weakness in the housing sector that has driven up mortgage delinquencies appears to be spilling over into the home-equity loan sector as well, according to a quarterly consumer delinquency report from the American Bankers Association.
The delinquency rate on closed-end home-equity loans rose 13 basis points from the third quarter to 1.92% in the fourth quarter of last year, according to the ABA. It's the first time the home-equity delinquency rate has been that high since the first quarter of 2006.
However, the delinquency rate on home-equity lines of credit remained unchanged at 0.57%, the lowest delinquency rate among any of the consumer credit categories tracked by the ABA.
The delinquency rate on mobile homes declined 42 basis points to 2.82% in the fourth quarter. Likewise, the delinquency rate on property improvement loans fell 29 basis points to 1.29% in the fourth quarter.
ABA chief economist James Chessen said in a news release that overall, ...
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WASHINGTON -- The delinquency rate on home-equity loans held...the current rise in home-equity delinquencies may be seen as a harbinger...overdue rate remained the lowest delinquency rate for any consumer credit category...
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- Magazine article from: Mortgage Servicing News December 1, 2003 700+ words
...quarter, despite improvement in the delinquency rate on credit card installment debt...deterioration in credit quality, with the delinquency rate rising to 0.63% from 0.61% in...lines continued to have the lowest delinquency rate of any consumer loan category in the...
- Home-Equity Delinquencies Remain Low.(Brief Article)
- Magazine article from: Mortgage Servicing News July 1, 2005 700+ words
...interest rates has helped keep the delinquency rate on securitized home-equity loan...In February, the 60-plus-day delinquency rate was 5.53%, a 23% decline from...7.19%. However, the February delinquency rate was a slight increase from the recent...
- Banks Report higher home equity delinquencies.(Brief Article)
- Magazine article from: Mortgage Servicing News May 1, 2003 700+ words
Date Delinquency Rate 4th Qtr '02 1.64% 3rd Qtr '02 1.38% 2nd Qtr '02 1.38% 1st Qtr '02 1.27% Source: American Bankers Association...
- Home Equity Delinquencies Edge Up.(Brief Article)
- Magazine article from: Mortgage Servicing News November 1, 2001 700+ words
Delinquencies on home equity loans nationwide increased from year to year in both the first and second quarters, according to a report by the American Bankers Association. The numbers in the report have not been seasonally adjusted. Delinquencies in the first and second quarter of this year were at
- At a Glance: Home Equity Delinquencies Rates.
- Magazine article from: National Mortgage News March 29, 2004 700+ words
Quarter HEL HELOC '03 4th 2.50% 0.43% '03 3rd 2.52% 0.52% '03 2nd 2.48% 0.63% '03 1st 2.02% 0.61% Source: ABA Copyright 2004 Thomson Media Inc. All Rights Reserved. httpwww.thomsonmedia.com httpwww.nationalmortgagenews.com
- Snapshot: Banks Report Low Equity Delinquencies.
- Magazine article from: National Mortgage News October 21, 2002 700+ words
Loan Type: 2nd Q 1st Q HE Loans: 1.28% 1.28% HELOCs: 0.58% 0.64% Copyright c 2002 Thomson Media. All Rights Reserved.
- At a Glance: Home Equity Delinquencies Rates Slip.(Illustration)
- Magazine article from: Mortgage Servicing News May 1, 2004 700+ words
Quarter HEL HELOC '03 4th 2.50% 0.43% '03 3rd 2.52% 0.52% '03 2nd 2.48% 0.63% '03 1st 2.02% 0.61% Source: ABA Copyright 2004 Thomson Media Inc. All Rights Reserved. httpwww.thomsonmedia.com httpwww.mortgageservicingnews.com
- Snapshot: Banks See Low Home Equity Delinquencies.(Brief Article)(Illustration)
- Magazine article from: Mortgage Servicing News November 1, 2002 700+ words
Loan Type: 2nd Q 1st Q HE Loans: 1.28% 1.28% HELOCs: 0.58% 0.64% Copyright c 2002 Thomson Media. All Rights Reserved.
- Delinquency rate falls to lowest level in three years.(Business Alert)
- Magazine article from: Mortgage Banking January 1, 2004 700+ words
...adjusted (SA) third-quarter delinquency rate fell to its lowest level in three years. The SA delinquency rate for mortgage loans on one-to...point reduction in the total delinquency rate since the first quarter of 1990...
Source: HighBeam Research, Home Equity Delinquencies Increase.