WASHINGTON – During the third quarter, 10% of all homeowners were in foreclosure or late in making mortgage payments, according to a report released today by the Mortgage Bankers Association.

The group said 6.99% of mortgages were more than 30 days overdue and 2.97% of the loans were in foreclosure.

The delinquency rate was 22 basis points above the second quarter and 128 basis points above the third quarter of 2007.

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