Seasonal adjustments, politics cloud mortgage delinquency data

Bankers acknowledge that many people are having trouble paying their mortgages but have been unable to ascertain whether the problem is getting worse or better. Data released this week show the seasonally adjusted delinquency rate exceeded 10% for the first time ever in the first quarter. This year's midterm elections may also slow any recovery, as Republican victories in congressional races could reduce the amount of government aid available to prop up the housing market.

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