U.S. foreclosures hit all-time high
Published December 6, 2007 by CSBJ Staff
Home foreclosures jumped to an all-time high during the third quarter.
A quarterly report released today from The Mortgage Bankers Association said that the percentage of mortgages nationwide jumped to a record high of 0.78 percent during the July-to-September period, beating the previous high mark of 0.65 percent from the second quarter.
The delinquency rate for all mortgages also climbed to 5.59 percent during the quarter, up from 5.12 percent in the second quarter.
The MBA survey covers more than 45 million home loans nationwide.
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