For each of the most-recent three months, the rate of serious delinquency on first mortgages moved up. Second mortgage performance also waned.
As of February, ninety-day delinquency on consumer credit stood at 0.94 percent based on
the Composite Consumer Credit Default Index.
Serious consumer delinquency deteriorated from the first month of the year, when the rate was 0.92 percent, but fell from 0.97 percent a year prior.
The index was included as part of the
S&P/Experian Consumer Credit Default Indices.
In Dallas, the 90-day rate was 0.83 percent, surging from January by 8 basis points
— the worst month-over-month increase of any of the five-largest metropolitan statistical areas.
Miami saw a 25-basis-point plunge to 1.42 percent as of last month. The decline was the largest among the five MSAs.
Ninety-day delinquency on U.S. first mortgages finished February 2017 at 0.74 percent. Serious first-mortgage delinquency worsened 2 BPS compared to a month earlier. The rate has risen each month since November 2016, when it was 0.70 percent.
But the first-mortgage rate improved by 10 BPS from a year earlier.
Also increasing was the 90-day rate on second mortgages, which inched up 3 BPS from January to 0.51 percent. But like its senior counterpart, serious second-mortgage delinquency dropped from February 2016, when the rate was 0.60 percent.
