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Article: Survey: Loan Delinquency Rates Reach 10-Year Low
- Article from:
- The Washington Post
- Article date:
- June 24, 1989
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Mortgage loan delinquency rates have reached their lowest level
in almost 10 years, according to a national delinquency survey by the
Mortgage Bankers Association of America. The overall delinquency
rate for the first quarter of 1989, at 4.61 percent, has fallen about
1 1/2 percentage points from its peak of 6.07 percent in the first
quarter of 1985.
The survey showed that delinquency rates declined for both
conventional and Federal Housing Administration-insured loans during
the quarter, while remaining essentially unchanged for VA loans.
For conventional loans, nearly 40 percent of the overall decline
occurred in the most serious problem loan category, those loans that
are more than ...