3rd qtr Mortgage Delinquencies Rise

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00016866-3rd-qtr-mortgage-delinquencies-rise/

By Lynn Adler, Reuters

Delinquencies on U.S. home mortgages rose in the third quarter due to the displacement of people by Hurricane Katrina but they fell from a year earlier as the economy improved, an industry group said on Wednesday.

The rate of homes entering the foreclosure process edged up last quarter from a year earlier, and this is likely to grow once the effects of Hurricanes Katrina, Rita and Wilma are reflected, according to the Mortgage Bankers Association.

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