The Mortgage Bankers Association last week released its quarterly survey on mortgage loan delinquencies for 4Q04. As of the end of the year, the seasonally adjusted delinquency rate for mortgage loans on one to four unit residential properties was 4.23%, said the MBA, down 26 basis points from 4Q03 and 18 basis points lower from 3Q04.

The MBA also reported that the percentage of loans in foreclosure stood at 1.12% at the end of the year versus 1.29% at the end of 2003, and 1.14% at the end of 3Q04 - the lowest seen since 3Q04. The seasonally adjusted rate of loans entering foreclosure was 0.44% in 4Q04, down a basis point versus the previous year and up five basis points from 3Q04.

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