General World News

Mortgage delinquency rate nears historic low

The overall mortgage delinquency rate declined to 2.79% in August from 3.6% in July, according to a report by Black Knight. The delinquency rate is just 4 basis points above the historic low of 2.75% in May 2022.

August saw 20,300 foreclosure starts, a 15% rise from July, but remained 44% below August 2019, holding well below pre-pandemic levels.

“August’s improvement in mortgage delinquencies was in part a natural correction following July’s calendar-related increate (spurred by the month ending on a Sunday) alongside continued broad-based improvement in serious delinquent inventory in the wake of the COVID-19 pandemic,” Andy Walden, vice details ⇒

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