(Reuters) - The Mortgage Bankers Association said the rate of loans entering the foreclosure process was 0.58 percent on a seasonally adjusted basis, or more than one out of 200 loans and 4 basis points higher than the previous quarter. The rate rose 17 basis points from a year ago.
The delinquency rate for mortgage loans on one- to four-unit residential properties stood at 4.84 percent of all loans outstanding in the first quarter on a seasonally adjusted basis, down 11 basis points from the fourth quarter and up 43 basis points from a year ago, according to the MBA's National Delinquency Survey.
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The delinquency rate for mortgage loans on one- to four-unit residential properties stood at 4.84 percent of all loans outstanding in the first quarter on a seasonally adjusted basis, down 11 basis points from the fourth quarter and up 43 basis points from a year ago, according to the MBA's National Delinquency Survey.
Read more at Reuters.com Economic News
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