General World News

Mortgage delinquencies inch up in Q3 as job market cools: MBA

Total mortgage delinquencies rose slightly in the third quarter of 2023 as the job market cools and inflation puts more pressure on homeowners. However, delinquency rates are still well below historical averages, according to new data from the Mortgage Bankers Association (MBA). 

Delinquent home loans on one- to four-unit properties rose to 3.62% of all outstanding mortgages in Q3, up from 3.37% the previous quarter and 3.45% a year ago, according to MBA’s National Delinquency Survey.

“The increase was driven entirely by a rise in earliest-stage delinquencies – those 30-days details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com