NEW YORK - Late payments on U.S. mortgages increased to a record high in the second quarter, with almost one in eight homeowners delinquent or in the process of foreclosure.

The percentage of loans on which foreclosure actions were started edged down from the first quarter, driven by a sharp drop in actions on subprime adjustable-rate mortgages, the Mortgage Bankers Association said on Thursday.

But other types of loans, particularly prime, fixed-rate loans, saw a surge in foreclosure actions as rising unemployment affected more borrowers, the trade group said.

The percentage of loans on which foreclosure actions was started dipped to 1.36 per cent in the second quarter from an all-time high of 1.37 per cent in the first quarter. The rate was up 28 basis points from 1.08 per cent in the second quarter of 2008, the MBA said in its National Delinquency Survey.

It was the first quarter-over-quarter dip since the third of 2008, but the trade group warned the numbers did not necessarily herald a positive trend.

“The rise in prime fixed-rate foreclosures can largely be attributed to unemployment,” Jay Brinkmann, MBA’s chief economist, said in an interview.

Prime, fixed-rate loans now account for one in three foreclosure starts, up from one in five a year ago, Brinkmann said, noting that 41 states had increases in the foreclosure start rate for prime, fixed-rate loans.

Higher U.S. unemployment should propel more mortgage delinquencies and foreclosures over the coming year.

The delinquency rate rose in the second quarter to a record high, based on MBA data dating to 1972.

The delinquency rate includes loans that are at least one month past due but does not include loans in the process of foreclosure.

The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.24 per cent of all loans outstanding as of the end of the second quarter, up 12 basis points from 9.12 per cent in the first quarter and up 283 basis points from 6.41 per cent one year ago, the MBA said.

“There are no signs of improvement yet,” Brinkmann said.

The percentage of loans in the foreclosure process at the end of the second quarter was 4.3 per cent, an increase of 45 basis points from 3.85 per cent at the end of the first quarter and up 155 basis points from 2.75 per cent a year ago.

The combined percentage of loans in foreclosure and those with at least one payment past due was 13.16 per cent on a non-seasonally adjusted basis, the highest ever recorded in the MBA delinquency survey.

California, Florida, Arizona and Nevada continued to have a disproportionately high share of foreclosure starts, although their share is down slightly from last quarter, Brinkmann said.

“Those four states had 44 per cent of all of the nation’s new foreclosures during the second quarter of this year, down from 46 per cent in the first quarter,” he said.

A meaningful reduction in the foreclosure and delinquency rates will probably not emerge until the employment situation improves, Brinkmann said.