WASHINGTON - Home foreclosures hit a record high of 0.78 percent in the third quarter this year, the Mortgage Bankers Association announced today. Delinquency rates hit 5.59 in that quarter, from June to September, the highest rate since 1986. Also, 4.72 percent of subprime, adjustable rate mortgages entered foreclosure in the third quarter, a 0.88 percent increase from the second quarter, and 18.85 percent of subprime mortgage payments were late, the bankers reported.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.
Additional Reads
-
States shield addresses of judges, workers after threats March 14, 2023 -
Low-income families hit hardest by Mexico's rising inflation February 10, 2023
-
Parents stressed, worried about kids' mental health: Poll January 24, 2023 -
US official warns of risks posed by heavy electric vehicles January 11, 2023