Late payments on home-equity products managed to avoid an increase.
At 4.05 percent in the fourth quarter, 30-day home-equity delinquency was the same as in the third quarter, the American Bankers Association reported Tuesday.
Lates on home-equity loans were 4.32 in the fourth-quarter 2009.
But the rate on home-equity lines-of-credit was lower, falling to 1.73 percent from the third quarter’s 1.74 percent. HELOC lates were 2.04 percent in the final quarter of 2009.
On mobile-home loans, defaults declined to 4.01 percent from the prior period’s 3.92 percent. At the end of the prior year, the rate was 3.63 percent.
The level of delinquency on property improvement loans climbed to 1.26 percent from the third quarter’s 1.23 percent.
A composite index that reflects all consumer loan categories fell 33 basis points from the prior three-month period to 2.68 percent.
