US mortgage delinquencies set record

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High US unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax credit bureau shows. Among US homeowners with mortgages, a record 7.6 per cent were at least 30 days late on payments in August, up from 7.3 per cent in July, according to the data obtained exclusively by Reuters.

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