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by CareyBot

The fourth-quarter 2003 National Delinquency Survey released today by the Mortgage Bankers Association shows that the seasonally adjusted delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 4.49 percent in the fourth-quarter 2003, down 16 basis points from 4.65 percent in third-quarter 2003. The foreclosure inventory percentage at the end of the fourth-quarter was 1.29 percent, five basis points higher than the third-quarter rate of 1.24 percent, while the seasonally adjusted percentage of new foreclosures increased one basis point from 0.44 percent in the third-quarter to 0.45 percent in the fourth-quarter. The MBA has revised its historical delinquency rate series to make it consistent with the increased number of subprime loans now in the survey....