The delinquency rate includes all mortgages that are at least 30 days' past due.

Its delinquency rate on loans was a fraction of 1 percent.

As of Sept. 30, the delinquency rate was 3.7 percent.

That's almost double the delinquency rate for loans made one year earlier and at the same point in their terms.

"Our delinquency rate would be higher if you took out those zero percent balances," he said.

As for the small loans, the delinquency rate so far has been low - just 2 percent.

In fact, there already have been reports of growing delinquency rates in several areas.

In the second quarter, the delinquency rate was 4.9 percent.

A normal delinquency rate would mean the town would be about $1.2 million short.

Despite the most recent decline, the delinquency rate is still higher than a year ago, when it hit a three-year low of 2.19 percent.