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U.S. mortgage delinquency rates down in third quarter


09:22, December 07, 2012

WASHINGTON, Dec. 6 (Xinhua) -- Delinquency rates for commercial and multifamily mortgage loans went down in the third quarter of 2012, according to an industry report released on Thursday.

The Mortgage Bankers Association (MBA) found in a report that in the third quarter, the delinquency rates for commercial and multifamily mortgages held in life insurance companies, Fannie Mae, banks and commercial mortgage-backed securities decreased to 0.12 percent, 0.28 percent, 2.93 percent and 8.86 percent, respectively, while the rate for loans held by Freddie Mac remained the same at 0.27 percent.

"Commercial and multifamily mortgage delinquency rates all remain extremely low," said Jamie Woodwell, MBA's vice president of commercial real estate research, "The rate on bank-held loans is at its lowest level sinc