The delinquency rate on home equity lines of credit reached its highest level ever in the American Bankers Association's (ABA) third quarter 2008 consumer credit delinquency bulletin.

The HELOC overdue rate rose seven basis points from the second quarter to 1.15% in the third, according to the ABA. The percentage of closed-end home equity loans that were past due rose to 2.63% from 2.56% in the previous quarter.

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