Homeowners fell at least 60 days behind in their payments at a higher rate in the fourth quarter from a historic low, while those in foreclosure continued to dwindle, the Mortgage Bankers Association reported Wednesday.

The seasonally adjusted delinquency rate stood at 4.80% on Dec. 31, up 28 basis points from Sept. 30 and up three basis points from the end of 2015, according to the Washington-based group's quarterly National Delinquency Survey.

Credit unions remain well below the national average, according to Callahan & Associates, a Washington-based consulting firm.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Jim DuPlessis

A journalist for decades.