The share of residential loans that are considered seriously delinquent retreated to the lowest level since last summer.
The rate of 90-day delinquency on consumer loans — including first and second mortgages, bank cards and auto loans — was 1.30 percent in February.
Serious consumer delinquency improved by 4 basis points compared to the previous month and was 25 BPS better than the same month in 2013.
The performance data was based on the S&P/Experian Consumer Credit Default Indices released Tuesday.
At 2.23 percent, Miami maintained its status as the metropolitan statistical area with the highest rate of delinquency among the five-largest MSAs, though Miami’s rate plunged from 2.61 percent in January.
February’s lowest rate was in Los Angeles, at 1.05 percent.
Dallas was the only MSA where delinquency increased — to 1.16 percent from 1.14 percent.
On just first mortgages, the 90-day delinquency rate was 1.23 percent last month, improving from 1.26 percent in January. Serious first mortgage delinquency was last this low in August 2013.
In February 2013, 90-day first-mortgage delinquency was 1.48 percent.
In the second mortgage category, past due payments of at least 90 days worked out to 0.69 percent in February 2014, lower than 0.72 percent a month earlier and 0.71 percent a year earlier.
The last time ninety-day delinquency on second mortgages was this low was in September 2013.
