Delinquencies continued to rise in November among home loans, including subprime and prime-rated jumbo mortgages, made from 2004 to 2007, said Standard & Poor's Ratings Service.
But the rates of increase in both total and serious delinquencies among home equity lines of credit appear to have leveled off in the past three months, according to S&P. Second mortgages saw a slight decline.
Delinquencies on prime-rated jumbo loans made from 2004 to 2007 rose an average of 3.5% in November from a month earlier. Total delinquencies continued to grow as a percentage of the original balances as well, indicating the performance continues to worsen.
Delinquencies among such loans, of at least $417,000 at origination, rose faster than for other types of home loans last year but continued to have the fewest delinquencies.
Subprime loan delinquencies rose an average of about 1.28% from October.