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Hawaii late mortgage payments rise faster than nation

Late mortgage payments in Hawaii rose nearly 10 percent in the third quarter from the same period a year earlier, outpacing the national average increase of 3 percent, according to a report released today.

The number of borrowers whose mortgage payments are past due by 60 days or more rose to 5.28  percent in Hawaii, up from 4.81 percent in the third quarter of 2009, according to TransUnion. Nationally, the mortgage delinquency rate rose to 6.44 percent of mortgage holders in the third quarter from 6.25 percent a year earlier.

While up year-over-year, the Hawaii rate showed a marked decrease from the second quarter, when it was 5.71 percent, according to TransUnion.

Hawaii’s third-quarter delinquency rate was the 20th highest in the country, according to TransUnion.

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