Jumbo Mortgage ‘Serious Delinquencies’ Rise to 9.6%, Fitch Says
![Image %3D Fitch-Ratings 004[1]](http://www.soundmoneyinstitute.com/wp-content/uploads/2010/02/Image3DFitchRatings0041.jpg "Image %3D Fitch-Ratings 004[1]")
U.S. prime jumbo mortgages backing securities at least 60 days late rose to 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for “serious delinquencies,” according to Fitch Ratings.
“The trend line for delinquencies indicates the 10 percent level could be reached as early as next month,” Vincent Barberio, a Fitch managing director in New York, said today in a statement. The rate of non-performing loans almost tripled in 2009.
Read More: – by Jody Shenn, Bloomberg
