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Delinquencies And Prime Foreclosure Starts Rise

In the second quarter of 2009, the foreclosure starts rate increased seven basis points for prime loans (from 0.94% to 1.01%), according to the Mortgage Bankers Association.

Over the past year, the non-seasonally adjusted foreclosure starts rate increased 28 basis points overall and 40 basis points for prime loans.

The delinquency rate increased 35 basis points for prime loans (from 6.06% to 6.41%), and on a year-over-year basis, the seasonally adjusted delinquency rate increased 248 basis points for prime loans.