Housing Market, Mortgage Delinquencies | featured news

It's an ominous sign for housing. The percentage of homeowners who have missed at least one mortgage payment has risen for the second straight quarter, the Mortgage Bankers Assn. says.

The number of American households behind on mortgage payments posted a substantial decline from year-earlier levels, but foreclosures remained near record highs in the first quarter.

A dubious distinction was reached during the first three months of 2010: More than 10% of all borrowers are now behind on their mortgage payments.

Serious delinquencies among U.S. prime mortgages rose nearly 20 percent in the third quarter from the prior quarter, banking regulators said on Monday.