NEW YORK (Reuters) - Late payments and new foreclosures on U.S. homes rose in the third quarter and are likely to grow as a massive wave of adjustable-rate mortgages reset at higher interest rates, the Mortgage Bankers Association said on Wednesday.

Still, the share of late payments and foreclosures will stay relatively low as the housing market regains its footing in the middle of next year, and have a limited impact on the overall economy, the MBA said.

The mortgage delinquency rate rose to 4.67 percent in the third quarter, from 4.39 percent in the prior quarter and 4.44 percent in the third quarter of last year.

New foreclosures on houses rose to 0.46 percent from 0.43 percent both in the prior quarter and a year earlier.

The rate climbed to 0.19 percent from 0.18 percent on prime loans and rose to 1.82 percent from 1.79 percent for subprime.