"Consumers fell behind on loans secured by their homes at the fastest pace
in two decades in the first quarter, signaling deeper distress in the U.S.
economy, the American Bankers Association reported.
Home-equity lines of credit at least 30 days past due rose 14 basis points to 1.1 percent of accounts in the quarter, the Washington-based group said today in a statement. Delinquent credit-card accounts increased 13 basis points to 4.51 percent, the highest since 2006. Late rates worsened in five of eight categories of non-revolving loans tracked by the group. "
Thursday, July 3, 2008
1st Quarter Home Equity Loans Fall Behind