New Index: Rise of Mortgage Overdues Slowing

Debt Settlement USA, Phoenix, has announced the introduction of the Consumer Debt Index, which the company says indicates a slowdown in the rise of the mortgage delinquency rate in recent quarters. The CDI stood at 11.76 in the first quarter, up from 9.60 in the second quarter of 2007, Debt Settlement said. But the mortgage delinquency rate rose only 11% in the first quarter after rising 20%-25% in the third and fourth quarters, according to the company. The consumer loan delinquency rate fell during the first quarter after rising about 10% in the third and fourth quarters. Debt Settlement said the CDI is based on a combination of the Consumer Price Index and the following statistics calculated by the Federal Reserve Board: the mortgage delinquency rate, consumer credit outstandings, and the unsecured consumer loan delinquency rate.