WASHINGTON -- Delinquencies on home loans remained low in the first quarter of 1994, rising only slightly over the level in the preceding quarter to a seasonally adjusted 4.12%, according to a survey released Thursday by the Mortgage Bankers Association.
That number was down 18 basis points from the level in the first quarter a year ago, the survey showed.
All regions of the country except the South posted a rise in delinquencies since December. In the western region, delinquencies climbed 25 basis points, reaching 3.51% and largely reflecting the still-lagging California economy. In the Northeast, delinquencies edged up 7 basis points, reaching 4.15%.