The delinquency rate on home equity loans held by banks declined sharply in the first quarter, according to the American Bankers Association.Home equity loan delinquencies declined to 2.37% from 2.50% in the last quarter of 2003, according to the ABA's consumer credit delinquency bulletin. Past-due payments on home equity lines of credit also fell to 0.29% from 0.43%, remaining the lowest delinquency rate among the consumer credit categories tracked by the ABA. One weak spot was manufactured housing loans, where the delinquency rate increased to 5.93% from 5.56%. The ABA also reported that credit card late payments declined.

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