Early mortgage delinquencies up nationally

The percentage of U.S. mortgages overdue by one month rose to the highest level in a year in the second quarter as homeowners who lost jobs were unable to make their payments.

The share of home loans overdue by 30 days rose to 3.46 percent of all mortgages, from 3.35 percent in the first quarter, according to a Mortgage Bankers Association report Monday. The percentage of mortgages overdue by 60 days increased to 1.37 percent from 1.35 percent, while foreclosures dropped for the second consecutive quarter.

The gain in early delinquencies signals a slowing economy may increase foreclosures, said Jay Brinkmann, chief economist of the trade group. The unemployment rate in the three months ended June 30 rose to 9.1 percent from 8.9 percent, the first quarterly hike since 2009, the Labor Department reported.

The delinquency rate for all mortgages rose to 8.44 percent in the second quarter from 8.32 percent in the first. The "seriously delinquent" rate -- loans in default or in foreclosure -- dropped to 7.85 percent from 8.1 percent as banks began to catch up on cases delayed by backlogs and documentation errors, Brinkmann said.