The Real Deal Miami

Home delinquencies on the rise

October 01, 2009 08:27AM

Home loan delinquencies are on the rise, according to a new report from the Comptroller of the Currency released yesterday. The number of total loans reaching “past due,” CNBC’s Diana Olick said, is around 11.4 percent. In the second quarter this year, around two million loans became seriously delinquent. The combined data shows that “delinquencies are rising faster than modifications,” Olick said, which will ultimately put “downward pressure on home prices.”