Among closed-end loans tracked by the MBA, mobile home delinquencies fell from 5.09 percent in the first quarter to 5.07 percent while property improvement loan delinquencies fell from 1.16 percent to 1.07 percent and home equity loan delinquencies rose from 2.31 percent to 2.43 percent. Among open-end loans tracked by the MBA, home equity lines of credit delinquencies rose slightly from 1.14 percent to 1.15 percent.
“Despite the upward blip in home equity delinquencies this quarter, the trend continues in the right direction,” said James Chessen, ABA’s Chief Economist. “Home-related delinquencies are back down to pre-recession levels.”
The composite ration for all consumer credit sectors tracked by the ABA rose from 1.73 percent in the first quarter to 1.76 percent in the second quarter.