N.H. mortgage delinquency rate rises



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It’s been a rough couple of months for New Hampshire homeowners.Credit analytics company TransUnion said the Granite State’s mortgage delinquency rate (the ratio of borrowers 60 or more days past due) rose 6.31 percent in the first quarter of 2010 -- the second biggest increase in the country.TransUnion said the rate rose from 4.44 percent to 4.72 percent, an increase that was second only to Alaska, where the increase was 11.27 percent.New Hampshire ranked 17th for its year-over-year increase. The rate of delinquencies rose nearly 33 percent in that time, from 3.55 percent in the first quarter of 2009 to 4.72 percent in the first quarter of 2010.Nationally, it was a different story. The country’s mortgage loan delinquency rate dropped 1.74 percent in the first quarter – the first decline in 12 quarters – from 6.89 percent in the fourth quarter of 2009 to 6.77 percent in the first quarter of 2010.Around New England, the delinquency rates were: Connecticut (5.83 percent), Rhode Island (5.83 percent) and Massachusetts (5.21 percent) ahead of it, while Maine (4.64 percent) and Vermont (2.90 percent).TranUnion anticipates that the national delinquency rate will continue to fall throughout 2010, perhaps as low as 6.3 percent, taking into account economic conditions. – CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW

 

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