United Kingdom nonconforming residential mortgage-backed securities continued to show short-term stability for the most part in the latest month, according to Moody's Investors Service. Weighted average delinquencies were 19.7% in both December and November of 2009. This was up slightly from 19.4% six months prior and a marked increase from 13.7% in December 2008. Foreclosures, at 1.7%, were down from 2.0% in November and from 3.5% in December 2008. However, "sales of repossessed properties led to a further increase in losses," according to Moody's. Cumulative losses in December 2009 were 1.5%, up from 1.3% in November and 0.6% in December 2008.
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