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Mortgage Delinquencies Rose in 4th Quarter of 2008

Mortgage Loan Delinquencies continued to rise with an increase of 53 percent in the last quarter of 2008. The statistics released by TransUnion LLC, a credit reporting agency, revealed this fact. This was the eighth quarter in a row that showed rising trend of mortgage delinquencies across the US.

The states found to be the highest in mortgage delinquency rates were Florida with 9.52 percent and Nevada with 9.01 percent. Other states to follow the trend were Arizona with 6.93 percent and California with 6.88 percent. North Dakota was at the bottom of the list with a delinquency rate of 1.21 percent.

Each borrower in California had an average mortgage debt of $356,421, which is the highest across all states of the nation. West Virginia is at the lowest rung of the ladder with $96,243 per borrower.

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