by Calculated Risk on 4/10/2007 05:13:00 PM

From CNBC: Mortgage delinquency rates hit an all-time high

Mortgage delinquency rates hit an all-time high in the first quarter of 2007, according to data compiled by Equifax and analyzed by Moody’s Economy.com.

The percentage of mortgages in default rose to 2.87%, surpassing the worst levels following the 2001 recession.