The Mortgage Bankers Association (MBA) released its 4Q08 National Delinquency Survey (NDS) yesterday and reported that the delinquency rate for mortgage loans on 1-4 unit residential properties rose to a seasonally adjusted rate of 7.88% of all loans outstanding. This increased 89 basis points from 3Q08 and 206 basis points compared with year ago.

The NDS also showed that the percentage of loans 60 days and 90+ days past due set new record highs in the quarter, jumping to 3% from 2.20% (NSA) in 3Q08 on the 90-day figure.

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