Credit reporting agency TransUnion reports that the rate of home mortgage delinquencies – payments 60 days or more late – during the second-quarter was 6.67 percent, up from 5.81 percent in the second quarter of 2009, but down from 6.89 percent in the fourth quarter of 2009. It was also marginally better than the 6.77 percent first-quarter 2010 rate.
"We're seeing signs of recovering in terms of delinquency," says FJ Guarrera, vice president in TransUnion's financial services unit.
TransUnion expects the delinquency rate to fall further for the next two quarters, reaching 6.4 percent by the end of 2010.
Source: Associated Press, Eileen AJ Connelly (08/17/2010)