Monday, January 11, 2010

Mortgage Delinquencies Hit a Record High

Bloomberg reported:

Total U.S. mortgage delinquencies, excluding foreclosures, increased to a record high 9.8 percent, representing a month-over-month increase of 5.5 percent and a year-over-year increase of 21 percent based on data as of Nov. 30, Lender Processing Services Inc. said.

How long before delinquencies join unemployment at double digit levels?