TransUnion: Residential Overdues Rose in 2Q

Residential home loan delinquencies have risen for six straight quarters, with 3.53% of borrowers being at least 60 days behind on their mortgage payments in the second quarter, according to a TransUnion analysis of consumer loan data. This was up 51% from the level recorded in the second quarter of last year, TransUnion said. Nevada and Florida continued to top the list of states with the highest 60-day delinquency rates in the TransUnion data, with rates of 6.63% and 6.47%, respectively. "The second quarter of 2008 showed not only a substantial increase in the nation's unemployment rate and unprecedented gas prices, but also a continued decline in consumer confidence," said Keith Carson, a senior consultant in TransUnion's financial services group. The company can be found on the Web at http://www.transunion.com.