Past-Due Mortgages Up for First Time Since 2009: Report
The Chicago-based credit bureau calculates the mortgage delinquency rate as the percentage of borrowers 60 or more days behind on their payments, excluding those that are already in foreclosure. The rate increased to 5.88 percent as of the end of the third quarter.
TransUnion’s latest assessment follows a second-quarter report in which the company recorded the largest percentage drop in mortgage delinquencies since the end of the recession two years earlier. The Q2 delinquency reading was 5.82 percent.