Foreclosures Up, Delinquencies Down in Quarter

Washington, DC, Nov. 18, 2011 -- Home foreclosure filings rose in the third quarter, but overall delinquencies were down, according to the Mortgage Bankers Association.

MBA reported that foreclosures started for 1.08% of outstanding home loans, up from 0.96% in the second quarter.

The rise in foreclosures came as the rate of homeowners who are delinquent on their mortgages fell.

Those only 30 days late making payments improved to 3.19%, the lowest level since the second quarter of 2007. And those 60 and 90 days or more late in making payments also declined, bringing the percentage of delinquent loans not in foreclosure to under 8%.