ACLI: Delinquencies Hit Record Low

In the second quarter, delinquencies for mortgage investments by life insurance companies fell to their lowest levels in the 34 years the American Council of Life Insurance has been tracking such data.Total delinquencies were just 0.39%, shattering the old record of 0.55% set at year-end 1969. For the past two quarters, total delinquencies were at 0.56%. Commercial delinquencies reached 0.30%, also a new record. The previous record was 0.47%, set originally at the end of 1969 and equaled in the first quarter of this year. Commercial mortgages make up approximately 92% of all life company mortgage investments. The all-time high for delinquencies, 7.27%, was reached in June 1992.