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Consumer delinquencies rise in first quarter
By:Haligonian
Date: Wednesday, 2 July 2008, 11:41 am

Consumer delinquencies rise in first quarter: ABA (by Ruth Mantell)

WASHINGTON (MarketWatch) -- Delinquency rates for home equity lines of credit and bank cards rose during the first quarter, the American Bankers Association reported Wednesday, citing ongoing housing market stress and general economic weakness. On a seasonally adjusted basis, the percentage of HELOC accounts more than 30 days past due rose a 0.14 percentage point to 1.1%, reaching the highest rate recorded since 1997. Delinquencies for bank cards - credit cards provided by a bank -- rose a 0.13 percentage point to 4.51% in the first quarter, compared with the five-year average delinquency rate of 4.40%.