The national mortgage delinquency rate rose in June after hitting consecutive record lows in each of the previous three months.
The overall delinquency rate rose nine basis points to 2.84% in June, according to Black Knight. The delinquency rate is 35% lower than the same period last year and remains 30% below pre-pandemic levels.
A total of 1.51 million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a 5% increase from May.
“Early-stage delinquencies have been gradually rising over the past year and a half – ever since hitting record lows details ⇒
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