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Mortgage Delinquencies Are Continuing to Rise -  The Office of Thrift Supervision and the Office of Comptroller of the Currency reported on Tuesday that mortgage delinquencies and foreclosures are still rising but efforts to keep borrowers in their homes are increasing at an even faster pace.

The Offices of Comptroller of the Currency (OCC) and Thrift Supervision (OTS) released their latest Mortgage Metrics Report on Tuesday, showing that home retention actions increased 22 percent during the second quarter of 2009 and have increased by nearly 75 percent since the first quarter of 2008.

Mortgage delinquencies increased to 8.5 percent of all serviced mortgages during the second quarter of 2009, an increase of 11.9 percent and foreclosures in process increased to 2.9 percent, 16.9 percent more than the previous quarter.

Mortgage Rates Hold Below 5.00%. Loan Demand Falls - Mortgage rates remained below 5% for the second week in a row, yet the low rates fail to spur increased appetite for refinancing, new loans, or purchases, an industry survey said Wednesday.

 The Mortgage Bankers Association said the average rate for a 30-year mortgage fell three basis points to 4.94% in the week ending September 25 ― the lowest rate since early May. Yet, even with the $8,000 tax credit for first-time home purchasers expiring soon, loan applications decreased by 2.8% in the week.