Mortgage Payments One Month Late Rise on Job Market
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The percentage of U.S. mortgages with one overdue payment rose in the second quarter, the first gain in early delinquencies in more than a year, as economic growth slowed and jobless claims increased.
Home loans overdue by a month climbed to 3.51 percent, from 3.45 percent in the first quarter, according to a report today from the Washington-based Mortgage Bankers Association. The increase was led by mortgages guaranteed by the Federal Housing Administration. The one-month late rate for that type of home loan rose to 5.77 percent from 5.54 percent.