Default rates for both first and second mortgages increased during the month of December, according to the S&P/Experian Consumer Credit Default Indices. First mortgage delinquencies rose from 1.92 percent in August to 1.99 percent in September. Second mortgages rose from 1.27 percent in August to 1.32 percent in September. However, both rates are lower than their levels one year ago when 3.02 percent of all first mortgages were delinquent and 2.14 percent of second mortgages were reported delinquent.
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