More Fall Behind On Home Payments

The number of Americans behind on their mortgage payments increased at the end of 1997 to the highest level in nearly two years.

Mortgage delinquencies rose to a seasonally adjusted 4.36 percent in the final quarter of last year, the Mortgage Bankers Association of America said Wednesday.

That was up from 4.26 percent in third quarter and marked the highest delinquency level since the first three months of 1996. It was the fourth increase in five quarters and the largest in a year.