The mortgage delinquency rate hit 7.12% in November, according to LPS, up from 7.03% in October,...

|By:, SA News Editor

The mortgage delinquency rate hit 7.12% in November, according to LPS, up from 7.03% in October, but down from 7.83% a year ago. The increase was likely seasonal and Sandy-related, with those areas hit by the storm reporting sharp bumps in delinquencies. Foreclosure starts continue their sharp decline, but not for long, says LPS, as servicers have retooled to meet new rules and are ready to start ramping up.