The Mortgage Bankers Association says 7.58 percent of homeowners missed at least one mortgage payment in the October-December quarter. In a normal market, the percentage of delinquent borrowers is about 1.1 percent, according to the trade group.
Delinquent mortgages have come down from a record high of more than 10 percent of residential mortgages in 2010. Still, part of the reason for the decline is a delay in foreclosure filings. The end of a 16-month state and federal investigation info faulty foreclosure paperwork this month will likely increase foreclosures this year.
The quarterly survey covers nearly 88 percent of primary residential mortgages, or nearly 44 million loans.
